NJ Corporation Banking and Financial Business Tax

I want to get information about the NJ Corporation Banking and Financial Business Tax means Corporation Tax Rates as well as Net Income Tax rates changed Effective Date. So here can you provide me information about it?

[Kiran Chandar]

I would like to tell you about the NJ Corporation Banking and Financial Business Tax means Corporation Tax Rates as well as Net Income Tax rates changed Effective Date.

Corporation Tax Rates:

Corporation - MINIMUM TAX:
The minimum tax is assessed based on New Jersey Gross Receipts:

GROSS RECEIPTS:
TAX:
Less than $100,000
$500

$100,000 or more but less than $250,000
$750

$250,000 or more but less than $500,000
$1,000

$500,000 or more but less than $1,000,000
$1,500

$1,000,000 or more
$2,000


Corporation- MINIMUM TAX (Tax Year 2007 – Forward):
The minimum tax is assessed based on New Jersey Gross Receipts:

GROSS RECEIPTS:
TAX:
Less than $100,000
$375.00

$100,000 or more but less than $250,000
$562.50

$250,000 or more but less than $500,000
$750.00

$500,000 or more but less than $1,000,000
$1,125.00

$1,000,000 or more
$1,500.00

Net Income Tax rates have changed as follows:
Effective Date
Rate
January 1, 1959 (P.L. 1958, c. 63)
1¾%

January 1, 1967 (P.L. 1966, c. 134)
3¼%

January 1, 1968 (P.L. 1968, c. 112)
4¼%

January 1, 1972 (P.L. 1972, c. 25)
5½%

January 1, 1975 (P.L. 1975, c. 162)
7½%

January 1, 1980 (P.L. 1980, c. 280)
9 %