Sales and Use Tax Update for New Jersey

Posted on January 23rd, by Hoberman & Lesser 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