Archive for Tag: CBT

Murphy’s corporate business tax surcharge sunset is not a budget tax cut, says DePhillips

TRENTON, N.J. – Assemblyman Christopher DePhillips is challenging Gov. Phil Murphy’s misleading claims that his fiscal year 2024 budget proposal cuts taxes by allowing the corporate business tax surcharge to sunset. “Governor Murphy is taking a victory lap for following the law to drop the surcharge on corporations at...

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New Jersey’s dead-last business ranking demands legislative fix, says DePhillips

TRENTON, N.J. – For the sixth year in a row, the Tax Foundation ranked New Jersey last for overall business tax climate in their 2023 report –an annual index that shows how well states are structuring their tax systems. Assemblyman Christopher DePhillips, a longtime advocate for corporate tax reform,...

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DePhillips renews calls to cut N.J. corporate tax to compete with Pa.

TRENTON, N.J. – Pennsylvania’s corporate tax cut must be a catalyst for change in New Jersey, says Assemblyman Christopher DePhillips. The lawmaker is calling on legislative leadership to prioritize his bill to lower New Jersey’s highest-in-the-nation 11.5% corporate business tax rate before companies, jobs and families move to the...

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