NJ Senator Steve Oroho |
Two bills sponsored by Senator Steve Oroho (R-Sussex) that would streamline New Jersey’s cumbersome tax structure were passed by the New Jersey Senate. S-1646 simplifies the formula by which business taxes are calculated, requiring a single sales factor formula instead of the current three factor formula. S-1540 provides tax relief to small businesses by allowing taxpayers who generate income from different types of businesses to offset gains from one type of business with losses from another. Read More
Kyrillos Business Tax Credit Bill Heads to the Governor
NJ Senator Joe Kyrillos |
Legislation proposed by Governor Christie and sponsored by Senator Joe Kyrillos (R-Monmouth) and Senator Fred Madden (D-Gloucester) to expand financial assistance grants for current and prospective New Jersey employers has cleared both chambers of the Legislature and heads to the Governor’s desk. If signed, the bill will broaden the availability of state financial assistance for those employers who wish to expand operations in or relocate to the State of New Jersey. Read More
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