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New Jersey
Corporate Income Tax Rate at a Glance
New Jersey's top corporate income tax rate is 11.5%, applied as graduated brackets. This places New Jersey in the "High (8% or higher)" tier among U.S. states.
Rate Structure (Flat vs. Graduated)
Base Corporation Business Tax: 6.5% on first $50,000; 7.5% on $50,001-$100,000; 9.0% on income over $100,000. Plus a 2.5% Corporate Transit Fee (CTF) surtax on companies with NJ allocated taxable net income over $10 million, enacted 2024 retroactive to Jan 1, 2024 (effective rate 11.5% for those companies). Minimum tax: $375-$2,000 based on NJ gross receipts.
Franchise Tax / Annual Privilege Tax
New Jersey's corporate tax is technically called the Corporation Business Tax (CBT) and includes a minimum tax of $375 to $2,000 based on NJ gross receipts, even for unprofitable corporations.
S-Corp & Pass-Through Treatment
New Jersey recognizes federal S-corp election (NJ S-corps must affirmatively make the federal election binding for NJ since 2022 reforms made it automatic). Pass-through entities may elect entity-level taxation under NJ's BAIT (Business Alternative Income Tax) at graduated rates up to 10.9%.
Official State Revenue Department
For current corporate tax rules in New Jersey, consult the state's official source at https://www.nj.gov/treasury/taxation/. Rates and rules change annually — verify with a qualified tax professional before taking any action.
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Corporate income tax rates change frequently as states enact reform packages and phase-down schedules. Always verify current rates with the state's department of revenue and your tax advisor before making business decisions. This information is for educational purposes only and is not tax or legal advice.