Decreases sales and use tax rate from 6.625 to 6 percent.

This bill would lower New Jersey's sales and use tax rate from 6.625% to 6%, effective January 1, 2026. It amends Section 3 of P.L.1966, c.30 (C.54:32B-3) to reflect this change for all taxable retail sales, services, and hotel stays. The tax reduction would directly lower the amount consumers pay on eligible purchases and businesses collect from customers. The bill also adjusts related tax rates for hotel occupancy fees and municipal taxes that combine with the state sales tax. This change would result in lower tax payments for consumers and businesses on taxable transactions starting in 2026.