Archive for Tag: Corporate Business Tax

Unexpected revenue windfall must benefit New Jerseyans now, DePhillips says

TRENTON, N.J. – New Jersey is in even better financial shape than first thought, with billions more in surplus than anticipated in Gov. Phil Murphy’s proposed FY2023 budget. As such, Assemblyman Christopher DePhillips is calling for the governor and legislature to provide New Jerseyans tax relief in this year’s budget....

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DePhillips moves to make New Jersey America’s innovation leader

TRENTON, N.J. – New Jersey’s corporate business tax has led to an exodus of investment in the state once called the nation’s medicine chest. New Jersey is fifth out of seven states in the region for innovation, according to an NJBIA study, and experienced the largest loss of undergraduate...

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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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