NJ’s loose supervision of big business tax breaks - NJ …

Tax break applications from a number of firms with criminal convictions and substantial history of wronging, including documented violations of the U.S. Foreign Corrupt Practices Act, skated through th… See more

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NJ Business Tax Surcharge, Key Budget Issue | NJ Spotlight News

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Mar 20, 2023 · Put in place in 2018 and set to expire at the end of 2023, the 2.5% surcharge …

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NJ Firms Stand To Lose Tax Breaks Unless Workers Come To Office

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May 8, 2024 · More than 170 projects continue to get $3.7 billion in tax credits under the …

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Past Due: Cutting NJ's Corporation Business Tax - NJ Spotlight News

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May 8, 2023 · As many in Trenton and beyond know, New Jersey’s top-end 11.5% corporation …

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NJ Spotlight News | Advocates:End Of CBT Surcharge Is Tax Break …

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Nov 30, 2023 · Dec. 31 is the last day that New Jersey will charge a 2.5% surcharge on the …

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New Jersey Lawmakers Pass Multiyear $14B Tax Break Bill

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Dec 21, 2020 · New Jersey has been without a business tax incentive program since July 2019 …

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Murphy's $56B Budget Plan Seeks Revived, Narrowed Business Tax …

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Feb 27, 2024 · Gov. Phil Murphy proposed $55.9 billion in spending for the coming fiscal year …

newjerseymonitor.com

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NJ Lawmakers Speedily OK $14B Corporate Tax Breaks - NJ …

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Dec 21, 2020 · Here’s a breakdown of key points in the tax-break plan: Tax-break programs: …

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Siekerka: How A $1B Tax On Large Employers Impacts NJ Small …

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May 22, 2024 · Gov. Phil Murphy has proposed a permanent 2.5% surtax, or Corporate Transit …

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Murphy Hails New Tax Break Law As Investment In State’s Economy

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Jan 7, 2021 · The law also sets aside $50 million in one-time funding for small-business …

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FAQs about NJ’s loose supervision of big business tax breaks - NJ … Coupon?

Will a tax overhaul help New Jersey be more competitive?

State lawmakers are moving ahead with a controversial tax overhaul bill that officials in Gov. Phil Murphy ’s administration say will help New Jersey be more competitive but some experts and business leaders warn would amount to significant tax breaks for large multinational corporations doing business in the state. ...

Should the New Jersey tax surcharge be maintained beyond the current year?

It has issued a report that calls on lawmakers to maintain the surcharge beyond the current calendar year. Citing Treasury research, the Policy Perspective report notes only about 2% of the thousands of companies doing business in New Jersey have been paying the surcharge. ...

Is New Jersey's tax relief strategy working?

“Our strategy is working.” Despite the worsening fiscal condition, New Jersey will maintain its largest tax relief programs in the coming fiscal year. That includes nearly $2.3 billion for the Anchor program and a planned $200 million deposit into a lockbox fund for StayNJ. ...

How much will the New Jersey tax surcharge cost you?

Citing Treasury research, the Policy Perspective report notes only about 2% of the thousands of companies doing business in New Jersey have been paying the surcharge. At the same time, the ending of the surcharge is on track to cost the state roughly $1 billion in lost income annually once its impact is felt across a full fiscal year. ...

Does New Jersey have a business tax?

But the state’s corporation business tax itself has a much longer heritage, according to Treasury records. New Jersey first imposed a “franchise tax” on domestic corporations in 1884, initially using capital stock as a basis for the tax. Today, the business tax is levied in a far more complicated manner. ...

How much will NJ spend this fiscal year?

(Rich Hundley III/ NJ Governors Office) Gov. Phil Murphy proposed $55.9 billion in spending for the coming fiscal year during his annual budget address, asking lawmakers to approve a structural deficit and a shrinking surplus while reviving and altering a business tax that sunset mere months ago as the state’s revenue enters a post-pandemic sag. ...