Archive for Tag: business environment

Bergen asks Murphy to assist businesses with tax holiday

TRENTON, N.J. – Gov. Phil Murphy said his administration is working to set up a state business-incentive program to help employers during the coronavirus pandemic. Assemblyman Brian Bergen commended Murphy for understanding that without businesses there aren’t jobs, and would like to work with him on providing broad-based relief....

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DePhillips, DiMaio and DiMaso introduce bill lowering CBT to 2.5 percent

TRENTON, N.J. – Assembly Republicans are walking to their talk of cutting the corporate business tax to make the state more business friendly. Assemblymen Christopher DePhillips and John DiMaio are introducing a bill (A3754) with Assemblywoman Serena DiMaso that would gradually cut the rate to a flat 2.5 percent....

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Governor signs Wirths bill giving manufacturers preference for workforce development grants

TRENTON, N.J. – The manufacturing industry, which is currently in the midst of a skills-gap crisis, will now receive preference when applying for workforce development grants to train employees under a bill (A4023/S446) sponsored by Assemblyman Hal Wirths and signed into law by Gov. Phil Murphy today.  “This law...

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Senate committee advances Dancer bill protecting small businesses from costly fines for paperwork errors

TRENTON, N.J. – The Senate Commerce Committee cleared Assemblyman Ron Dancer’s bill (A1677) suspending fines for small businesses that commit first-time paperwork mistakes. “The state has a reputation for being one of the worst places to do business and small employers are struggling every day to survive,” said Dancer...

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Dancer bill will streamline S-Corporation status, help avoid double taxation

TRENTON, N.J. – The requirement to register as an S-Corporation separately for federal and state purposes means extra work and possibly extra taxes and penalties for many businesses. Assemblyman Ron Dancer introduced a bill (A5771) to eliminate that risk by allowing the federal election of S corporation status to be...

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DiMaio: Let’s talk tax cuts, not incentives

TRENTON, N.J. – The Select Senate Committee on Economic Growth Strategies held a hearing yesterday with a panel of national experts who were largely critical of the Economic Development Authority’s controversial tax incentive program. Assemblyman John DiMaio, the Republican budget officer, echoed the experts’ sentiments that there are better...

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Peters announces sweeping EDA reforms

LUMBERTON, N.J. – Assemblyman Ryan Peters announced a package of reforms to protect taxpayers from fraud and prevent backroom deals at the Economic Development Authority. “Recently, we’ve witnessed the unearthing of hidden influence and rampant abuse within the Economic Development Authority and how it doles out billions of dollars...

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Assembly approves GOP bill protecting small employers from costly fines for paperwork errors

TRENTON, N.J. – Small businesses can escape costly fines for first-time filing mistakes under legislation that passed the Assembly today. Sponsored by Assemblymen Ron Dancer and Anthony Bucco, the bill (A1677) suspends fines for inconsequential paperwork procedure violations. “The state has an unfriendly business environment, and small employers are...

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