| I think that you really mean the Annual Franchise Tax of $550 and not the AMT tax.
For your information, the S Corporation is subject to the annual minimum NJ Franchise Tax of $500, plus an additional 4% surtax of $20 for a total of $520. There is an additional Annual Report of $50 that is due by the S corporation to the State of New Jersey as well.
However, a Single Member NJ LLC is only subject to the Annual Tax Report of $50. But, you should carefully seek the correct professional advice to determine whether or not you should be incorporated as an LLC instead. There are a lot of tax and non-tax considerations that may well result in a benefit that far exceed the additional cost of NJ Annual Minimum Franchise Taxes of $520. | 
