This morning, NJGCA received the official notice from the NJ Department of Treasury announcing the increase of the gas tax (Petroleum Products Gross Receipts Tax -- PPGRT).

The whole world has been misinformed about the У23вФ gas tax increase. Under the formula set forth in the legislation and signed by Governor Christie, the increase will not be 23в but will actually be 22.6в.

Every invoice you receive starting on November 1, 2016 will show a total of 26.6в per gallon in the Petroleum Products Gross Receipts Tax line, which includes the 22.6 cents increase.

This difference of 4/10 of a cent less than what you expected the tax to be may affect how you decide to price your product!

Be aware: There are adjustment periods built into the legislation which allow for the tax to rise or fall by a few tenths of a cent each quarter, based on the overall volume of gasoline sales in the state. I am not going to get into the nitty gritty of that right now, but we will keep you informed of when to expect changes, as well as explaining how the changes have been calculated.

For now, start preparing for a 22.6в increase. The determination is final and was made by the Treasurer this morning.

The NJ Department of Treasury is planning to mail an official copy of this notice to every location with a Motor Fuels License. It is expected to be placed in the mail later this afternoon or tomorrow morning and should arrive at your locations no later than Monday. Surely this is not a reasonable time frame for official notification, but since you have been kept apprised of the situation as it has developed, you should be better informed than those who do not belong to NJGCA and have not received our communications. You can read the official notification in advance of receiving it in the mail by clicking HERE!