New Jersey Replaces Flat Controlling Interest Transfer Tax with Graduated Tax Rates

On 30 June 2025, the governor of the U.S. State of New Jersey signed the Fiscal Year 2026 Budget into law. The 2026 budget overhauls the Controlling Interest Transfer Tax (CITT) on transfers of equity interests in entities that own New Jersey real property as follows:
- The previous flat 1% levy on transfers above USD 1 million is replaced by a graduated percent fee ranging from 1% for transfers…