New Jersey

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.

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.

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.

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%.

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.