Income tax

NJBIA Criticizes Decision to Raise Income Taxes as Policymakers Confirm It Wasn’t Needed to Fill Budget Gap

Sep17,2020

NJBIA President and CEO Michele Siekerka issued the following statement regarding today’s announcement of an agreement between Governor Murphy and legislative leadership to expand the base of those will pay the state’s gross income tax rate from 8.97% to 10.75%. “This tax increase in exchange for suggested middle-class relief is a gimmick that further verifies […]

January Revenue Collections Up 5.9% Despite Income Tax Uncertainty

Feb22,2019

By NJBIA

The New Jersey Department of the Treasury recently released January revenue collections. For the press release, and a copy of the January 2019 Revenue Report, please read below. (TRENTON) – The Department of the Treasury reported that January revenue collections for the major taxes totaled $4.042 billion, up $225 million, or 5.9 percent above last […]

“The Stories Our Members Share with Us”

Jun20,2018

By Steve Wilson

Moving their businesses out of New Jersey is a growing imperative among companies who belong to NJBIA, and the budget debate is only making things worse. Testifying before both the Senate Budget and Appropriations Committee and the Assembly Budget Committee on Tuesday, Siekerka related two stories NJBIA member companies had recently shared with her: “One […]

Income tax

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