UPDATE 7-1-2016

New Jersey Petroleum Products Gross Receipts Tax

Floor Stocks Tax

There is a floor stocks tax payment due on all on road diesel fuel that is held in inventory for resale at the close of business (11:59pm) on December 31, 2017.
Holders of on road diesel inventory for resale are required to:
1. Complete Form PPT-D1-INV (link below) indicating the volume of your inventory at close of business 12-31-2017

    1. Send completed form to NJ DIV TAXATION PO 189 Trenton NJ 08695-0189.
      Report is due no later than 1-31-2018


    1. Complete PPT-D1-FS (link below)• Send completed form to NJ DIV TAXATION Revenue Processing Center PO 2343 Trenton, NJ 08646-0243• Include a payment for the additional $0.159 per gallon due on diesel inventory• Payment is due no later than 6-1-2018

Diesel Inventory Report (PPT-D1-INV) 141 KB
Diesel Inventory Instructions  20 KB
Diesel Inventory Worksheet  36 KB
Diesel Floor Stock  (PPT-D1-FS)  407 KB
Diesel Floor Stock (PPT-D1-FS) Instructions  27 KB

Petroleum Products Gross Receipts Tax Overview


The Petroleum Products Gross Receipts Tax is imposed on all companies engaged in refining and/or distributing petroleum products for distribution in this State. It applies to the first sale, not for export, of petroleum products within New Jersey.

Home heating oil (including #2, #4, and #6 heating oils) and propane gas and kerosene used for residential heating are exempt from tax. Also exempt from tax are receipts from sales of petroleum products used by marine vessels engaged in interstate or foreign commerce; receipts from sales of aviation fuels used by airplanes in interstate or foreign commerce other than burnout portion; receipts from sales of asphalt and polymer grade propylene used in the manufacture of polypropylene; receipts from sales to nonprofit entities qualifying for exemption under the Sales and Use Tax Act; and receipts from sales to the United States or the State of New Jersey.
Effective January 1, 2001, P.L. 2000, C. 156, phased out, over a three-year period, the Petroleum Products Gross Receipts Tax for fuel used by any utility, co-generation facility, or wholesale generation facility to generate elec­tricity sold at wholesale or through certain retail channels.
The petroleum products tax is imposed at the rate of 2¾% on gross receipts from the first sale of petroleum products in New Jersey. In the case of fuel oils, aviation fuels, and motor fuels, this rate is converted to $0.04 per gallon pur­suant to C. 48, P.L. 2000, adopted on June 30, 2000. Eligible taxpayers may claim the Neighborhood Revitalization State Tax Credit against the petroleum products gross receipts tax pursuant to P.L. 2001, C. 415.

Disposition of Revenues
Certain revenues are credited to a special account in the General Fund and dedicated to the Transportation Trust Fund under the New Jersey Constitution, Article 8, Sec­tion 2, paragraph 4.