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Notice
Reduction of the Minimum Corporation Business Tax
on New Jersey S Corporations
(P.L. 2011, c. 84)


P.L. 2011, c. 84 signed on June 30, 2011, applicable to privilege periods beginning in calendar year 2012 reduces the minimum tax for New Jersey S corporations by 25%. The minimum tax is based on New Jersey gross receipts as defined in N.J.S.A. 54:10A-5a. For privilege periods beginning in calendar year 2012, the minimum tax for New Jersey S corporations is as follows:

New Jersey Gross Receipts
Minimum Tax:
Less than $100,000 . . . . $375

$100,000 or more but
less than $250,000

. . . . $562.50

$250,000 or more but
less than $500,000

. . . . $750

$500,000 or more but
less than $1,000,000

. . . . $1,125
$1,000,000 or more . . . . $1,500

Note: In order to be treated as a New Jersey S corporation, a corporation must elect and receive approval for New Jersey S corporation status by filing a completed Form CBT-2553, pursuant to N.J.S.A. 54:10A-5.22.

Last Updated: Wednesday, 08/20/14



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