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Division of Taxation

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: Tuesday, 04/28/20