Sales and Use Tax Update for New Jersey

Posted on January 23rd, by mad121704 in Timely Articles.

The New Jersey Division of Taxation reminds taxpayers regarding previously enacted legislation that reduces the sales and use tax rate from 7% to 6.875% on and after January 1, 2017, and further reduces the rate to 6.625% on and after January 1, 2018. Sellers must collect and remit the tax at the rate of 6.875% on all taxable sales of tangible personal property, specified digital products, and enumerated services that occur on and after January 1, 2017. This rate (6.875%) will remain in effect until December 31, 2017.

Notice, New Jersey Division of Taxation, December 1, 2016