State Taxes

Tools and Resources


New Jersey Announces Rates for Petroleum Products Gross Receipts Tax


In an e-mail to taxpayers, the New Jersey Division of Taxation today announced that, effective November 1, the petroleum products gross receipts tax rate for gasoline and LPGs will be $0.266 per gallon. The rate comprises the current $0.04 per gallon plus the new 12.85% variable rate (converted to $0.226 per gallon using the average retail price of gasoline). There is no change to the current petroleum products gross receipts tax rate for diesel – it will remain at $0.04 per gallon until January 1, 2017. The rate for fuel oil effective November 1 will be $0.124 per gallon. With respect to gasoline, floor stocks inventory must be taken as of October 31, 2016 and an inventory report filed on December 15, 2016. Payment of the floor stocks tax will be due on February 1, 2017. The e-mail stated that further information including tax rate charts and revised forms will shortly be posted to the Division of Taxation website.