New Jersey Sales Tax Update
The New Jersey Sales and Use Tax will be reduced in two phases between 2017 and 2018. P.L. 2016, c. 57 decreases the Sales and Use Tax rate from 7% to 6.875% on and after January 1, 2017. The tax rate will decrease to 6.625% on and after January 1, 2018. This Notice discusses the transition of the Sales and Use Tax to the lower rates.
Boats and Other Vessels: We have confirmed with the Division of Taxation that the effect on boats and other vessels will be a reduction of the rate to 3.4375% for sales made on and after 1/1/17, and before 1/1/18.
More information about the tax rate changes can be found on the Division of Taxation website. They will be updating their site and including links with more information so please check back often for updates.
If anyone has any questions or needs assistance, please contact the MTA/NJ office at 732-292-1051.
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"New Jersey's Voice on the Water"
2516 Highway 35, Suite 201
Manasquan, New Jersey 08736
P. (732) 292-1051 | F. (732) 292-1041
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