Imposes 2.5 percent corporate transit fee on taxpayers with allocated taxable net income in excess of $10 million under CBT.

S 3513 imposes a 2.5% surtax (called the "Corporate Transit Fee") on corporations in New Jersey with more than $10 million in taxable income under the state's corporate tax system, excluding S corporations and public utilities. This fee applies to tax years beginning January 1, 2024, through December 31, 2028, and is paid in addition to regular corporate taxes. All revenue collected - after constitutional dedications - will fund New Jersey Transit's operating costs and help cover the state's share for federal transit capital projects. The fee does not allow tax credits except for specific payment-related adjustments.