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New Jersey to Tax Internet Sales November 1st

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the staff of the Ridgewood blog

Trenton NJ, New Jersey has yet another new tax law on the books that will soon require most e-commerce websites to collect sales taxes and send the revenue to Trenton whenever they sell products to Garden State residents and the new tax policy goes into effect next month, just in time for the start of this year’s holiday shopping season.

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NJBIA President Forced to Admit No Incentive to Own and Operate a Business In New Jersey

Phill Murphy -Sara Medina del Castillo

the staff of the Ridgewod blog

Trenton NJ, NJBIA President & CEO Michele N. Siekerka, Esq. issued the following statement Thursday regarding Gov. Phil Murphy’s action on A-4495, which revises the Corporation Business Tax.

“We are extremely disappointed the governor has signed A-4495 into law, which extends well beyond the intended cleanup of the Corporation Business Tax (CBT) legislation passed in July and will place a significant additional financial burden on our state’s largest job creators and discourage startup companies from operating here.

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AFP-NJ: It Exists Therefore It’s Taxed

July 2, 2018
by AFP-NJ: It Exists Therefore It’s Taxed

Trenton NJ,  Americans for Prosperity-New Jersey (AFP-NJ) responded to the New Jersey state budget, which the legislature passed and the governor signed on Sunday. The $37.4 billion state budget increased income taxes as well as corporate taxes. AFP-NJ opposed the measure.

AFP-NJ State Director Erica Jedynak issued the following statement:

“The way New Jersey lawmakers tax everything you’d think they’re purposefully trying to drive everyone out so they can keep the state to themselves. According to Sen. Sweeney and Gov. Murphy, the only thing better than a tax on one thing is a tax on two. But the higher income and corporate taxes will only exacerbate the Garden State’s already troubling outmigration problem and increase the tax burden on an ever-shrinking population. How long before New Jersey lawmakers start taxing folks in New York or Pennsylvania?

“That some lawmakers refuse to acknowledge that New Jersey has a spending problem, not a revenue problem, is outrageous. Our elected officials need to recognize that spending on wasteful programs such as corporate welfare is a core driver of increased taxes, which in turn make it harder to live, work, and raise a family in the Garden State.”

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New Jersey lost $18 billion in net income over nine years thanks to a net outmigration of 2 million residents.

for sale Ridgewood_Real_Estate_theRodgewopodblog

file photo by Boyd Loving

July 3,2018

the staff of the Ridgewood blog

Wyckoff NJ, Assemblyman Kevin J. Rooney R- 40  comments on the latest tax increase from Trenton .
Rooney said last Thursday during the state budget battle ,”People moving out of New Jersey are having a significant economic impact, according to a report released by NJBIA. Outmigration by the Numbers: How Do We Stop the Exodus? Concludes that New Jersey lost $18 billion in net income over nine years thanks to a net outmigration of 2 million residents.
The exodus leads to $8.4 billion in lost household spending; $11.4 billion in lost economic output; 75,000 lost jobs and $4 billion in total lost labor income.
This year Democrats are fighting with Democrat Governor Phil Murphy over two spending plans: their plan to spend $36.5 billion and Murphy’s plan of $37.4 billion. Except this time it is over which taxes to hike to fund their irresponsible spending increase. When will New Jersey Democrats stop the insanity?”

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Schepisi slams Murphy for cutting affordable housing funding

May 15,2018

the staff of the Ridgewood blog

Trenton NJ, Gov. Phil Murphy’s proposed budget would use nearly $80 million to help fund affordable housing projects to fill gaps in his spending plans. Assemblywoman Holly Schepisi is having none of it.
At the conference of mayors a couple weeks ago in Atlantic City, Schepisi spoke to dozens of mayors who said that affordable housing obligations were crushing their own budgets.

“The affordable housing funds are already far below what towns really need to fulfill court-ordered projects,” said Schepisi (R-Bergen). “Mayors from both sides of the aisle have pleaded for help from the state on this issue and Governor Murphy is callously ignoring their calls by cutting the only funding they have, and that isn’t enough in the first place. The affordable housing issue will continue to crush our communities until the legislature and the governor decide to stop turning the other way and actually address this problem.”

Governor Murphy plans to redirect $59.3 million from the Affordable Housing Trust Fund, and another $18.5 million from the Housing and Mortgage Financing Agency. Those two funds are the largest source of relief for municipalities who are forced by courts to provide affordable housing, regardless of demand.

Schepisi introduced a package of bills to address the affordable housing crisis last year, but they have not yet been considered for a vote. Schepisi’s affordable housing package includes:
Ending municipal obligations and requiring COAH to calculate and administer a statewide obligation (A1645/A1647/ACR80).
Requiring COAH to determine if towns can afford new housing and establishing a challenge to the obligation (A1646/A1648).
Eliminating the urban aid exemption from affordable housing obligations and amending the constitution to prohibit exclusionary zoning (A1649/ACR79).
Terminating the builder’s remedy that coerces affordable housing (A1650).