Voting Session – Monday, February 10, 2020 S-296 – Pennacchio (R26); Cunningham (D31) – Establishes scholarship program for graduate students and postdoctoral researchers in field of fusion science. NJBIA supports this legislation. S-688 – Ruiz (D29); Singleton (D7) Enhances, and allocates funds for, pre-apprenticeship programs. NJBIA supports this legislation. S-865 – Smith (D17); Bateman (R16) […]
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 […]
The pass-through business alternative tax bill (S-3246/A-4807) is on the Governor’s desk after passing the Assembly and the Senate (for concurrence with Assembly amendments) unanimously on Monday. This bill allows pass-through businesses like S-corps, LLCs and partnerships to claim federal deductions that other types of businesses currently receive. Deductions for pass through businesses that […]
Nearly two years since it was first introduced, S-3246 – Sarlo (D36); Singleton (D7); Oroho (R24); Bucco (R25) / A-4807 Benson (D14); Bucco (R25); Freiman (D16) is poised to land on Governor Murphy’s desk on Monday night. This bill will allow pass-through entities, which are mostly small businesses like S-corps, LLCs and partnerships, to claim […]
On Thursday, Mike Testa, the Cumberland County Republican chairman, was sworn into his District 1 Senate seat. Testa defeated Senator Bob Andrzejczak in the Nov. 5 election to serve the remainder of former state Senator Jeff Van Drew’s term. Testa’s bio can be found here.