GOP plan for ‘once-in-a-lifetime opportunity’ to cut NJ taxes
Income taxes would be cut, property taxes would be helped by municipal and school aid and residents would get rebate checks under Assembly GOP budget sketch.
Income Tax
Bigger tax relief likely amid ‘unprecedented’ NJ revenue surge
The Murphy administration says revenues in the current and upcoming years will be $7.8 billion higher than it expected in March.
NJ to extend earned income tax credit to more young adults
Bipartisan support for legislation to lower the age at which working adults without children become eligible for the state EITC from 25 to 21 in New Jersey.
Pandemic clears way for return of millionaires tax in NJ
It took a worldwide pandemic – plus $500 checks to middle-class families in an election year – to get a millionaires tax back on the books in New Jersey.
As commuters work from home, NJ income tax coffers may benefit
New Jersey commuters who used to cross a river into New York or Philadelphia but have been working from home could yield an unexpected windfall for the state.
NJ to delay 2021 state budget three months due to coronavirus
New Jersey plans a supplemental appropriation to extend its 2020 budget by three months, so it can have time to assess state finances this summer.
With economy teetering, will NJ budget still seek millionaires tax?
Gov. Phil Murphy hasn’t yet identified changes in the post-coronavirus state budget though has indicated he’d still like to increase the millionaires tax.
Murphy to endorse ending NJ income taxes on combat zone pay
New Jersey is the only state that taxes combat pay. Gov. Phil Murphy will endorse long-stalled legislation that would finally end that.
Murphy touts $1.1B in savings to bolster $558M in new tax hikes
Lawmakers don't appear convinced that around $800 million in health plan savings are enough to justify the millionaires tax sought by Gov. Phil Murphy.
Sorry, NJ: State tax refunds won’t come until (at least) March
Division of Taxation says refunds from tax returns filed electronically will be paid in around four weeks. Paper returns could take three times longer.
GOP leader: Ditch tax hike & we’ll meet halfway on minimum wage
A GOP leader says Republicans could back a minimum wage hike — if it's scaled back, paired with a middle-class tax cut and Democrats abandoning tax hikes.
Fair Tax Supporters Keep Momentum Going
It's been a little more than a month since New Jersey Congressman Scott Garrett became the first Representative in the Northeast to co-sponsor the Fair Tax bill, and local supporters are keeping that momentum going.