I would like to remind you that the State Sales and Use Tax rate will be reduced from 7 percent to 6.875 percent on January 1, 2017. Business owners should prepare to change their point-of-sale systems to reflect the lower rate for the New Year.
Additionally, rates for sales tax in Urban Enterprise Zones also will change on January 1, 2017. The rate in a designated UEZ will be 50 percent of the sales tax rate, or 3.4375 percent. The previous UEZ rate was 3.5 percent.
For more information on the State Sales and Use Tax change, please visit the NJ Department of Treasury by clicking here.
