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Corporate Transit Fee Now in Effect
Corporations with more than $10 million in taxable net income are now subject to a 2.5% Corporate Transit Fee, effective from January 1, 2024, through December 31, 2028. This fee is in addition to the annual Corporation Business Tax and aims to support New Jersey Transit. Public utilities and New Jersey S Corporations are exempt from this fee.
Source:
https://www.nj.gov/treasury/taxation/cbt/corporatetransitfee.shtml