NJBIA - New Jersey Business & Industry Association
New Jersey Business & Industry Association
Despite two major tax increases on business in the recently finalized FY2021 budget, an Assembly committee will discuss on Monday a controversial bill that would impose a new hike on electronic stock trades processed in New Jersey. The bill, A-4402, was introduced in July by Assemblyman John McKeon. It calls for a quarter-cent tax on […]
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 […]
For those that could not attend or were there and wanted to better remember what was discussed, I wanted to provide you all a recap of the January policy committee meeting where Treasury staff and Senator O’Scanlon presented. I hope this summary is helpful, and please feel free to reach out to me if you […]
NJBIA looks forward to working with Assemblyman Christopher DePhillips (R-40) and Assemblywoman Serena DiMaso (R-13) who have announced the creation of a Tax Cut Caucus. Both legislators want to bring more attention to affordability and reducing taxes instead of additional state spending, and they plan to use the caucus to review New Jersey’s pending taxes […]
Revenues through the first five months of the fiscal year from the general income tax (+5.4%), sales tax (+8.8%) and CBT (+33.1%) are all well above projections with total major tax revenues up 10% compared to the first five months of last year. The projected growth rate is only 0.6%. Treasury does caution that “there […]
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New Jersey Business & Industry Association
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