NJ 7% Sales Tax Effective 7.15.06
Category: Tax Law and Planning
As of 7.15.06, the New Jersey Sales Tax rate to be collected by local businesses is 7%. Sales tax violations have always been aggressively pursued by New Jersey, and claiming ignorance regarding the increase will likely not act to waive tax payment, penalties and fines. See the Department of Taxation Notice Here.
REMEMBER - SALES TAX LIABILITY IS A PERSONAL LIABILITY OF THE OWNER OF AN ENTITY. IN OTHER WORDS, YOUR CORPORATION OR LLC WILL NOT PROTECT YOU FROM PERSONAL LIABILITY IF YOU FAIL TO COLLECT AND REMIT THE PROPER TAX AMOUNT.
For more information, visit the NJ Department of Taxation. And keep going back, as new categories of goods and services that were previously exempt from sales tax will be subject to sales tax starting October 1, 2006.