1Trenton, NJ – A newly introduced bill in the New Jersey Assembly would repeal the state’s corporate transit fee, ending a 2.5 percent surtax on large corporations that was enacted last year to help fund NJ Transit’s operations and capital projects.

Assemblymen Christopher P. DePhillips and Al Barlas, both Republicans from District 40, sponsored the measure, Assembly Bill 6007, which would immediately abolish the Corporate Transit Fee established under P.L.2024, c.20. Assemblywoman Dawn Fantasia co-sponsored the legislation.

If enacted, the repeal would apply to all corporate business tax (CBT) privilege periods beginning on or after the bill’s effective date.

Corporate transit fee targeted for repeal

The Corporate Transit Fee currently applies to companies with more than $10 million

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