NJ’s online sales tax law up for change

December 10, 2024 | njspotlightnews.org

Credit: Image by Gerd Altmann from Pixabay

New Jersey’s 6.625% sales tax is the largest individual source of revenue for the state budget’s General Fund, with nearly $13.8 billion in collections forecast for the current fiscal year. 

Under a law enacted in 2018, remote sellers and online marketplaces selling products to New Jersey residents must collect sales taxes after 200 or more separate transactions involving state residents in a calendar year, or when gross revenue from New Jersey-based sales exceeds $100,000 annually.

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