Bill > S4887

Introduced Session

This bill eliminates the "Corporate Transit Fee," under which the State imposes a 2.5 percent surtax on certain corporation business tax (CBT) taxpayers that have New Jersey allocated taxable net income in excess of $10 million for privilege periods that begin on and after January 1, 2024 through December 31, 2028. The Corporate Transit Fee is imposed in addition to the taxpayer's regular CBT liability during each of privilege periods. Beginning in Fiscal Year 2026, all revenue generated from the Corporate Transit Fee is required to be appropriated annually to support New Jersey Transit's operating expenses and to pay for the State's matching funds required to receive federal funding for eligible New Jersey Transit capital projects. Under this bill, CBT taxpayers would no longer be required to pay the Corporate Transit Fee for any privilege period beginning on or after the enactment of the bill.

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Tony Bucco (R)*,  Kristin Corrado (R)*, 

Introduced in the Senate, Referred to Senate Budget and Appropriations Committee (on 11/20/2025)

Official Document