TRENTON, N.J. – More employees would be eligible to make tax-exempt retirement contributions under a bill moved out of the Assembly Financial Institutions and Insurance Committee Monday. Assemblyman Ned Thomson’s legislation (A512/S737) would provide income tax exclusions for contributions made to 401(a) pensions, 403(b) plans, 408 IRAs, 457 deferred-compensation...
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TRENTON, N.J. – Record-high inflation, New Jersey’s built-in income tax hikes, and a Democrat-controlled government combine to create a mean holiday Grinch. Consumers in New Jersey are feeling the extra squeeze this season, because Trenton Democrats have rejected calls to index income taxes to inflation, say Assembly Republicans. This...
TRENTON, N.J. – The state Attorney General’s office announced today that they filed a brief with the U.S. Supreme Court challenging New York’s tax guidance for employers to tax employees working at home in New Jersey as if they were “days worked in New York.” New Jersey provides a...