—Overview— On June 30, 2019, Gov. Phil Murphy signed legislation A-5604 (P.L.2019, c.145) authorizing an expansion of New Jersey’s Angel Investor Tax Credit Program. The expansion of the program provides for an increased tax credit on investments and bonuses for businesses located in low-income communities as well as minority or women-owned businesses. This Fast Facts […]
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OverviewOn May 2, 2018, Governor Phil Murphy signed a law which requires most private sector employers to provide at least 40 hours of paid sick leave in a 12-month period to every employee for their own diagnosis, treatment, or preventative care, or, for that of a family member. This Fast Facts helps employers understand the […]
—Overview— In 2018, there were a number of bills signed into law that impact the business community by increasing taxes and making significant changes to New Jersey’s tax structure. Perhaps most notable were the changes to the Corporation Business Tax (CBT) in July, subsequent changes were signed into law in October. On July 1, […]
As an annual service to our members, NJBIA explains the changes in tax withholding rates and taxable wage bases that employers face in the year ahead. Unemployment Insurance, New Jersey Workforce Development and Health Care Subsidy Fund Taxes Employee and employer state Unemployment Insurance tax rates will apply to the first $34,400 of an employee’s […]