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    • Arizona—Property Tax: Property Inspection Procedures Updated for Agricultural Properties
    • California—Multiple Taxes: Business Tax Credits Limitation Extended, Minimum Franchise Tax Reduced for New LLCs/LPs/LLPs
    • California—Sales and Use Tax: Revenue Trailer Bill Includes Expansion of Tax to Digital Products
    • Colorado—Multiple Taxes: 2027 Interest Rate Announced
    • Illinois—Miscellaneous Tax: Guidance Issued on Medical Cannabis Cultivation Tax Changes
    • Illinois—Sales and Use Tax: Guidance Issued on July 1 Hotel Tax Changes
    • Illinois—Sales and Use Tax: Transit Authority Tax Rate Increases Announced
    • Maryland—Motor Fuel Tax: Comptroller Issues Rates Effective July 1
    • Maryland—Sales and Use Tax: Comptroller Issues Sales and Use Legislative Update
    • Mississippi—Sales and Use, Miscellaneous Taxes: Updated Fair Market Values for Cannabis Excise Tax
    • New Jersey—Corporate Income Tax: Net Operating Loss Deduction Temporarily Capped
    • New Jersey—Miscellaneous, Motor Fuel Taxes: Petroleum Products Gross Receipt Rates Unchanged
    • New Jersey—Personal Income Tax: Child Tax Credit Increased Temporarily
    • New Jersey—Personal Income Tax: Reduced Business Deduction For High-Income Taxpayers Enacted
    • Rhode Island—Multiple Taxes: Certain Farmers Will Be Exempt from Tax
    • South Carolina—Corporate Income, Property Taxes: Guidance on Textiles Communities Revitalization Act Credit Updated
    • Vermont—Sales and Use Tax: Tax Cap on Tracked Vehicles Announced for 2026-2028
    • Washington—Sales and Use Tax: High Grossing Business Surcharge Exemption Explained
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    State Tax Day - Current, S.13, New Jersey—Personal Income Tax: Reduced Business Deduction For High-Income Taxpayers Enacted, (Jul 2, 2026)

    New Jersey has modified the state's personal income tax alternative business calculation adjustment by adjusting eligibility. Retroactive to tax years beginning on or after January 1, 2026, the percentage that a taxpayer can subtract from taxable inc ...

    New Jersey has modified the state's personal income tax alternative business calculation adjustment by adjusting eligibility. Retroactive to tax years beginning on or after January 1, 2026, the percentage that a taxpayer can subtract from taxable income is determined as follows:

    • a taxpayer with gross income of no more than $500,000 for the tax year can subtract from taxable income 50% of the business increment;

    • a taxpayer with gross income of more than $500,000, but no more than $1,000,000 for the tax year can subtract from taxable income 25% of the business increment; and

    • a taxpayer with gross income over $1 million for the tax year cannot subtract any percentage of the business increment.

    Previously, all eligible taxpayers could deduct 50% of the business increment, regardless of income.

    Ch. 22 (A.B. 5323), Laws 2026, effective June 30, 2026

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