![]() Failure to do so can lead to penalties and interest charges. It’s your responsibility to manage the taxes you collect to remain in compliance with state and local laws. As of March 2019, sales and use tax in New Jersey is administered by the New Jersey Division of Taxation.Īny sales tax collected from customers belongs to the state of New Jersey, not you. And in established Urban Enterprise Zones, qualified businesses with a UZ-2 certificate may charge sales tax at half the regular rate on certain sales.Īs a business owner selling taxable goods or services, you act as an agent of the state of New Jersey by collecting tax from purchasers and passing it along to the appropriate tax authority. New Jersey does not generally allow the imposition of local sales tax, although certain locations may impose special luxury or tourism sales taxes. It was reinstituted at 3 percent in 1966, and since that time, the base sales tax rate has risen to 6.625 percent. New Jersey first adopted a general state sales tax in 1935 at a rate of 2 percent, but it was quickly repealed. Any Realty Transfer tax or fees over $10,000.00 must be paid by certified check or bank check.Sales tax is a tax paid to a governing body (state or local) on the sale of certain goods and services. Payment of Realty Transfer tax must be paid by cash, cashier's check, money order, attorney trust account and business escrow accounts only. All fees over $10,000.00 must be paid by certified check or bank check. ![]() Box and counter checks are unacceptable).
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