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2006-2007 State Budget Bills


The following is a list of recently enacted tax laws. Most are administered by the Division of Taxation, with the exception of A4707, which is administered by the Motor Vehicle Commission, and A4716 which is administered by Banking and Insurance. To view the law, click on the bill number.

ASSEMBLY, No. 4701 Imposes a 1% fee, or 1% tax, on certain purchasers of certain commercial property for over $1 million.

ASSEMBLY, No. 4702 Concerns sales tax exemptions for goods and materials purchased by qualified businesses in Urban Enterprise Zones.

ASSEMBLY, No. 4703 Clarifies fees under “The Radiation Accident Response Act” are assessments against facilities, not operators; assesses nuclear facility operators for costs of State provided supplemental security.

ASSEMBLY, No. 4704 Concerns electronic methods for filing tax returns and paying State taxes; establishes additional penalty for failure to use required methods and requires certain tax preparers to file gross income tax returns and payments electronically.

ASSEMBLY, No. 4705 Raises cigarette tax rate to 17½ cents per pack, changes tobacco products wholesale sales tax on moist snuff to weight-based tax and increases revenue dedication for Health Care Subsidy Fund.

ASSEMBLY, No. 4706 Imposes 4% surcharge on liability and increases minimum tax under the Corporation Business Tax.

ASSEMBLY, No. 4707 Establishes one-time supplemental titling fee on new luxury and fuel inefficient passenger automobiles.

ASSEMBLY, No. 4709 Alters phase-out schedule of transitional energy facility assessment unit rate surcharges.

ASSEMBLY, No. 4714 Imposes gross receipts tax on retail sales of fur clothing in this State and use tax on use of certain fur clothing in this State for which tax has not been paid.

ASSEMBLY, No. 4715 Increases rental motor vehicle surcharge from $2 per day to $5 per day.

ASSEMBLY, No. 4716 Increases annual assessment on net written premiums of HMOs to support charity care from 1% to 2%.

ASSEMBLY, No. 4901 Increases sales and use tax from 6% to 7% beginning on July 15, 2006 and expands base of sales and use tax beginning on October 1, 2006.

SENATE, No. 1989 Authorizes the State Treasurer to enter a reciprocal debt collection agreement with the federal government, enables the implementation of the agreement, and the sharing of certain State taxpayer information with the U.S. Treasury.

Last Updated: Tuesday, 09/28/10



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