As a service to its members, NJBIA will hold an online State Budget Recap and Debrief on Tuesday, July 7 at 3 p.m., when NJBIA Chief Government Affairs Officer Christopher Emigholz will discuss how the $60.7 billion FY27 spending plan impacts the business community.
The briefing will provide an overview of the FY27 State Budget, discuss its key policy and business implications, and offer an opportunity for questions and discussion.
On the positive side, the $60.7 billion budget, which took effect on July 1, reduces the state’s structural deficit by roughly half, preserves a surplus exceeding $6 billion, fully funds the state’s $7.3 billion pension payment, and continues significant investments in K–12 education while advancing targeted affordability and fiscal sustainability reforms.
However, alongside the budget, the Legislature approved several business tax changes, which NJBIA worked successfully to mitigate. The tax changes affect Net Operating Loss (NOL) deductions under the Corporation Business Tax, limit the alternative business calculation adjustment, and add a new per-employee assessment on businesses with 50 or more workers enrolled in Medicaid unless those workers are part-time or seasonal.
To find out more, register for this free online session here.
