Voice Your Opposition to the Proposed Corporate Transit Fee

In his proposed budget for New Jersey’s 2025 fiscal year, Governor Phil Murphy included a permanent 2.5% Corporate Transit Fee (CTF) on all companies with more than $10 million in net income. This comes after his repeated promises that he would not resurrect the 2.5% corporate business tax surcharge that expired on January 1. The NJCPA, like the rest of the business community, is very disappointed. 

Placing a permanent 2.5% tax on the 600+ largest New Jersey companies  that employ hundreds of thousands of New Jerseyans will inevitably place some of those jobs at risk. It will also harm thousands of small businesses that provide these companies with goods and services. 

Gov. Murphy’s proposal still needs to be approved by the Legislature. The NJCPA recently sent a letter to the Legislature voicing our opposition to the CTF, and we’re asking members to do the same. Follow the link below to email or make a call using our templates. 

Email or Call Your Legislators