On Sunday evening, lawmakers approved a series of tax increases, many of which will impact businesses, to fund the FY 2019 NJ budget ($37.4 billion) that was signed into law. Most notably, the budget deal comes with an increase in the corporate business tax, the inclusion of combined reporting and an increase in the income […]
NJBIA President & CEO Michele N. Siekerka, Esq. issued the following statement Friday about the state budget negotiations. “NJBIA is extremely disappointed to learn that the budget negotiations that broke down today between the governor and legislative leaders apparently centered on what taxes to increase, instead of what spending to cut. We need to fix […]
New Jersey is entering a budget showdown for yet another year. And while the Legislature and Governor Murphy debate whether it will be a steep increase on the corporate business tax or a big hike on the income tax for millionaires that buoys the final FY2019 budget, we do know that New Jersey’s job creators […]
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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 […]