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NJ S528
Bill
Status
1/9/2024
Primary Sponsor
Jon Bramnick
Click for details
AI Summary
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Director of the Division of Taxation must conduct a continuous study examining how New Jersey business income taxes affect business out-migration, new business formation, and employment within the state
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Study will analyze data from corporation, partnership, and other New Jersey income tax returns deemed appropriate by the director
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Director must submit an annual "Tax Policy Impact Report" to the Governor and Legislature by January 1 each year
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Report must include findings, recommendations, and whether state or local tax laws could be modified to improve New Jersey's business climate and reduce tax burdens on businesses
Legislative Description
Requires Director of Division of Taxation to study impact of State business income taxes on business out-migration, business formation, and employment.
Commerce
Last Action
Introduced in the Senate, Referred to Senate Commerce Committee
1/9/2024