NJBIA President and CEO Michele Siekerka took to the op-ed section of the Asbury Park Press over the weekend to again make the case that New Jersey small businesses need capital if they are going to survive the economic fallout from coronavirus.
She offered two specific ideas that could be done quickly and not add to the strain on government resources: A short-term suspension of New Jersey payroll taxes, such as income tax withholdings and unemployment insurance, and a 60-day delay in remitting the sales tax. Both ideas have been presented to lawmakers.
“The efforts of our many business owners to keep their employees on staff and their customers satisfied should be roundly applauded. Those forced to close or layoff their workers, we feel your pain,” she wrote.
“As we speak, small business owners are looking at an unfortunate numbers game. Thousands of them in New Jersey have millions of legitimate concerns about how long, or if, their business can survive with zero revenue coming in.”