NJBIA - New Jersey Business & Industry Association
New Jersey Business & Industry Association
Updated revenue forecasts from the state Treasury this week now show New Jersey poised to open the 2022 fiscal year with a staggering $10 billion in budget reserves. As the deadline to finalize the FY22 State Budget nears, NJBIA is leading the call for policymakers to use the unprecedented surplus wisely. “It’s really important that we use […]
The IRS recently updated the early drafts of its redesigned Schedules K-2 and K-3 for Forms 1065, 1120-S, and 8865 that will be used in the 2022 filing season for the 2021 tax year. The schedules are designed to provide greater clarity for partners and shareholders on how to compute their U.S. income tax liability […]
According to New Jersey Department of the Treasury, March revenue collections this year from major taxes totaled $2.821 billion, up $933.5 million, or 49.4%, over last March. Fiscal year-to-date, total revenue collections of $24.314 billion are up $1.916 billion, or 8.6% above the same nine-month period last year. “FY22 revenues are expected to grow by […]
The IRS is giving taxpayers an extra month to file and pay their income taxes for the 2020 tax year because of the COVID-19 pandemic, but New Jersey has not decided whether it will follow suit and extend the deadline for filing state income tax returns. The IRS announced late Wednesday that individual taxpayers can […]
Gov. Phil Murphy’s proposed FY22 budget boasts no new tax increases and a historic pension payment, but also a continuation of spending that many think is unsustainable and very well could lead to future tax increases. The $44.8 billion budget proposed by Murphy on Tuesday is up 10.9% from FY21 and is a 29% increase from the last signed […]
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New Jersey Business & Industry Association
10 West Lafayette Street Trenton, NJ 08608-2002
Tel: 609-393-7707
