Under the plan, the 600 corporations in the state that make at least $10 million a year in profits will pay a 2.5% tax on all earnings for five years.
Friday, June 21, 2024 10:44PM New Jersey has a tentative agreement with the state's most profitable companies to temporarily pay higher taxes to fund NJ Transit.
Both the "transit tax" and a final state budget still need to be approved by the Legislature next week. The budget expires June 30., which saw a string of service disruptions adversely impact rail commuters.
Tax Deal New Jersey Amtrak Mass Transit Nj Transit Deal Nj Transit Tax Deal Business Nj Corporations Nj Transit Funding 14986070
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