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NJ business tax plunge sparks alarm from NJ Chamber
President and CEO Tom Bracken warns the dramatic dip signals economic risks, as CBT and BAIT collections fell sharply last month, despite overall revenue growth.
Ciattarelli, Sherrill pitch business plans at NJBIA forum
Hosted by New Jersey Business & Industry Association, the gubernatorial candidates dug into their agendas for energy and economics in their first post-primary, public engagement.
All aboard: Murphy, legislative leaders reach CTF deal (updated)
The so-called "corporate transit fee" would help fund the financially beleaguered NJ Transit, hitting nearly 600 of the state's most profitable businesses that make at least $10 million a year in profits.
Helmy set to depart as Murphy’s chief of staff
“Simply put, you cannot write the history of our administration without recognizing George’s singular role in leading our team for over four and a half years,” said Gov. Phil Murphy.
New law permits NJ cannabusinesses to claim state tax deductions (updated)
According to Section 280E of the IRS code, cannabis-related ventures are blocked from deducting typical business expenses on state and federal returns since marijuana is classified as a Schedule I narcotic by the federal government.
NJBIA, GSI release ‘fact vs. fiction’ infographic to combat critics of CBT sunset
According to the New Jersey Business & Industry Association and Garden State Initiative, the one-sheet aims to simplify and bring context to the debate, while critics have dismissed the release as a "nothingburger."
NJ Chamber blasts coalition calling on Murphy to renege CBT sunset
During an interview with Bloomberg earlier this month, the governor signaled support for letting the corporate business tax surcharge sunset at the end of 2023 as planned following a 2020 extension due to the pandemic.
Murphy signals support for ending corporate business tax surcharge
Letting the 2.5% payment expire is something business groups and many lawmakers have called for.
Murphy extends CBT deadline one month – to Nov. 16
Citing the difficulty state-based businesses are facing with a dual Oct. 15 due date for federal and state returns amid upheaval from the COVID-19 pandemic, the governor said New Jersey would extend its own corporate business tax deadline.
