It’s official: New Jersey has axed their “Botax.”
New Jersey Gov. Chris Christie has signed a bill that will phase out a state tax on cosmetic procedures next year. Media reports suggest that rescinding the tax will cost the state about $10.8 million in annual revenue.
It is a gradual phase-out. The tax will drop from 6% to 4% in the first quarter after the bill’s enactment, then to 2% from July 1, 2012 to July 1, 2013. The so-called Botax will be eradicated by July 1, 2013.
Cosmetic surgery is defined as anything performed on a patient that improves appearance, and “which does not meaningfully promote the proper function of the body to prevent or treat illness,” according to the bill.