Requires Director of Division of Taxation to conduct study on impact of State business income taxation on business out-migration, formation, and employment for previous and upcoming tax years.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill directs the New Jersey Director of the Division of Taxation to conduct a study examining how New Jersey’s business income taxes affect businesses choosing to leave, start, or hire within the state. The study will analyze tax return data from the eight years before and after the law’s enactment. Based on the findings, the Director must submit reports to the Governor and the Legislature, recommending potential changes to state tax policies to improve the state’s business environment and reduce the financial impact on businesses.
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Sponsors
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2 on record
Primary sponsors
Douglas Steinhardt
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