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

This bill decreases New Jersey's sales and use tax rate from 6.625% to 6%, effective January 1, 2026. It amends the state's tax code to reflect this change for all taxable sales, services, and hotel stays, including retail purchases, services, and accommodations. The bill also adjusts related tax rates for hotel occupancy fees and municipal taxes to maintain existing combined tax rate limits. This change will directly affect businesses collecting sales tax and consumers purchasing taxable goods and services in New Jersey after January 1, 2026.