>State ‘spends’ over $15 billion on would-be taxes
New Jersey foregoes more than $15 billion a year in tax revenue through various credits, deductions, exemptions and other special provisions in the state’s tax code, a new state report shows. A 35-page report on these so-called “tax expenditures’ was released quietly last month by Gov. Chris Christie’s administration, to comply with a new law passed by the Legislature in January and signed by lame-duck Gov. Jon S. Corzine. (Symons, Gannett)
