Starting January 1, 2018, the Sales and Use Tax rate will decrease from 6.875% to 6.625%.
Please prepare to update your records accordingly. The new tax rates will be:
- Atlantic City Luxury Tax
- 12.625% (9% Atlantic City Luxury Tax and 3.625% New Jersey Sales and Use Tax for sales subject to both taxes ‒ other than alcoholic beverages by the drink);
- 9.625% (3% Atlantic City Luxury Tax and 6.625% New Jersey Sales and Use Tax for alcoholic beverages that are sold by the drink in Atlantic City);
- Boat and Other Vessels Sales Tax ‒ 3.3125% (50% reduced rate);
- Cape May County Tourism Tax ‒ 8.625% (6.625% New Jersey Sales and Use Tax and 2% Tourism Tax for Wildwood, Wildwood Crest, and North Wildwood). This rate is in addition to the 1.85% Tourism Assessment and the 3.15% State Occupancy Fee on hotel occupancies;
- New Jersey Sales and Use Tax ‒ 6.625%;
- Salem County Sales Tax ‒ 3.3125% (50% reduced rate);
- Urban Enterprise Zone Sales Tax ‒ 3.3125% (50% reduced rate).
If you have any questions call me on 732-673-0510.
Please reach out to me without hesitation with any tax, business or
accounting question, and to schedule a consultation.
Tax Laws are complex.
It is very easy to make mistakes that can incur penalties.
Do you have a Tax, Accounting or Business Question?
Call Me Immediately. (732) 673-0510.
Is your CPA or Attorney
ignoring your Phone Calls and Emails?
Call Me Immediately. (732) 673-0510.
Remember,
“If We Aren’t Working For You, Then You Aren’t Working At Your Best”
Chris Whalen, CPA
(732) 673-0510
79 Oak Hill Road
Red Bank, NJ 07701
www.chriswhalencpa.com
