NJBIA - New Jersey Business & Industry Association
New Jersey Business & Industry Association
The New Jersey Economic Development Authority (NJEDA) says interest in the state’s Angel Investor Tax Credit Program soared to record levels in 2020, as investors submitted more than 700 applications, nearly three times the average of previous program years. Applications also hit the legislative cap of $25 million in late October, marking the first time the […]
With the FY22 budget season beginning shortly, the New Jersey Business & Industry Association strongly supported this week a bill that calls for shared services and potential cost savings for local and county governments. Bill S-1, which cleared the Senate Budget and Appropriations Committee by a 12-0 vote on Thursday, represents a legislative effort […]
Federal Paycheck Protection Program (PPP) loans given to New Jersey businesses to help them during the COVID-19 pandemic will be exempt from state taxes, and any business expenses paid using PPP money remain deductible for the 2020 tax season. Gov. Phil Murphy and Treasurer Elizabeth Maher Muoio made the announcement late Tuesday, saying the state would follow the lead of the federal government, which has already said that PPP […]
Two COVID-19 tax relief bills to help New Jersey businesses were unanimously approved by the Senate on Thursday. S- 3234, sponsored by Senator Troy Singleton (D-7), would ensure New Jersey businesses that received federal assistance under the Paycheck Protection Program (PPP) do not have to pay state income taxes on their loans, even if those […]
The state Senate voted unanimously Thursday to approve a bill that directs the governor to implement county-based plans for safely reopening businesses, instead of the statewide, one-size-fits-all executive orders used since the COVID-19 pandemic hit New Jersey last March. S-3093, sponsored by Senator Vin Gopal (D-11), would require a color-categorized (red, yellow, green) mitigation plan […]
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New Jersey Business & Industry Association
10 West Lafayette Street Trenton, NJ 08608-2002
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