Category: business and finance

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NJ’s long term jobless rate among highest in the nation

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APRIL 27, 2015    LAST UPDATED: MONDAY, APRIL 27, 2015, 1:20 AM
BY HUGH R. MORLEY
STAFF WRITER |
THE RECORD

n 3.8% rate in 2014, a drop from the previous year, was higher than all but six states

New Jersey had one of the highest rates of long-term unemployment in the nation in 2014, even as the state job market slowly improved, figures released last week showed.

The percentage of the state’s workforce out of work for 15 weeks or more in 2014 — on average, 3.8 percent — was higher than all but six states, according to the U.S. Bureau of Labor Statistics. The national long-term jobless rate was 3 percent. New Jersey’s rate tumbled from an average of 5.1 percent in 2013.

Charles Steindel, former chief economist under Governor Christie and now a resident scholar at the Anisfield School of Business at Ramapo College, said the high rate of long-term unemployed reflects the sluggishness of the New Jersey economy, which has lagged behind the national revival.

“New Jersey has had a weak recovery, so it’s taking people longer to find a job,” he said.

He added that the state’s employment insurance payments are among the highest in the nation, and that may allow people to take longer to find the right job.

https://www.northjersey.com/news/nj-state-news/n-j-struggles-with-long-term-joblessness-1.1319422

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Chris Christie risks a generational debate on entitlements

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Chris Christie risks a generational debate on entitlements: Robert Samuelson

on April 24, 2015 at 12:00 PM, updated April 24, 2015 at 12:01 PM

By Robert J. Samuelson

WASHINGTON — If New Jersey Gov. Chris Christie has his way, the unfolding presidential campaign will focus on generational fairness. It will seek to curb spending on the elderly — mainly Social Security and Medicare — without putting the elderly at risk. This debate would be good for the country, but whether the country can conduct it without an orgy of bombast and distortion is an open question.

In case you missed it, Christie gave a speech in New Hampshire in mid-April proposing the following:

–Social Security benefits would be gradually reduced for those with non-Social Security incomes above $80,000 and ended at incomes exceeding $200,000, a plan Christie said would affect less than 2 percent of beneficiaries.

–Social Security’s eligibility age would slowly be raised (2 months a year, beginning in 2022) to 69 for full benefits and 64 for early retirement (from the present 62); Medicare’s eligibility age would be raised from today’s 65 to 67 in 2040 and 69 in 2064.

–Wealthier retirees with incomes above $85,000, who already pay higher Medicare premiums, would have their premiums raised on a sliding scale so that beneficiaries with incomes above $196,000 would pay 90 percent of the premiums for Medicare Part B (doctors’ bills) and Part D (drug coverage). Presumably, this also would be phased in, though Christie gave no details.

–Medicaid — the federal-state health insurance program for the poor — would be cut by putting a ceiling on federal payments to states.

Let’s concede that Christie’s gambit is self-serving. His presidential prospects are said to lag. He strives to differentiate himself from the herd of Republican contenders. What better way to demonstrate “leadership” qualities than to tackle an issue that, according to conventional wisdom, is political suicide. It’s a high-risk/high-reward strategy.

https://www.oregonlive.com/opinion/index.ssf/2015/04/chris_christie_risks_a_generat.html

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ALMOST A THIRD OF THOSE WITH SAVINGS HAVE LESS THAN $1,000 FOR RETIREMENT

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by WARNER TODD HUSTON 22 Apr 2015

Study after study shows that Americans are not saving for retirement like they should, and a new survey finds that nearly one third of people who have some sort of savings plan have amassed less than $1,000 for retirement.

The survey titled “Preparing for Retirement in America,” by Employee Benefit Research Institute (EBRI) and Greenwald and Associates, finds that only 65 percent of workers have any savings for retirement, a number that fell below the 75 percent figure from 2009.

But 28 percent of workers report that they have saved less than $1,000 for retirement, and almost 6 in 10 Americans say that their financial planning needs improvement.

Additionally, 34 percent say they have made no effort at all to saving anything or make a retirement plan. Still, most say that they intend to start saving at some point.

But intentions may not be enough. “Intending one thing and doing another is human, but it’s an impulse we should all fight hard to resist,” Rebekah Barsch, vice president of planning and sales at Northwestern Mutual, said in a press statement. “Intentions only get us so far. And when the stakes are high, it’s taking action that’s critical.”

https://www.breitbart.com/big-government/2015/04/22/almost-a-third-of-savers-have-banked-less-than-1000-for-retirement/

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Better Late than Never: N.J. Senate Republicans unveil 36-bill jobs package

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Senate Republican Leader Tom Kean Jr. called the bill package an “immediately attainable plan to help people find their long lost jobs and provide greater opportunities for families throughout this state.”

APRIL 23, 2015, 2:44 PM    LAST UPDATED: THURSDAY, APRIL 23, 2015, 4:19 PM
BY DUSTIN RACIOPPI
STATE HOUSE BUREAU |
THE RECORD

Senate Republicans on Thursday unveiled a 36-bill package aimed at creating jobs and expanding economic opportunities.

The bills focus on areas that legislators say have stymied job growth and limited economic opportunity, like cutting red tape, offering more work training and overhauling tourism.

None of the proposals would cost a dime to taxpayers, lawmakers said.

Senate Republican Leader Tom Kean Jr. called the bill package an “immediately attainable plan to help people find their long lost jobs and provide greater opportunities for families throughout this state,” adding that it “cannot fall victim to partisan politics.”

Republicans and the Democrats who control the Legislature have differing views on how to spur the state’s lagging economy, but 11 of the bills already have Democratic co-sponsors. Three bills have already passed the full Senate, and more than a dozen others are pending committees. Still, there is tension between the two parties over how the state can pull out of its economic slump.

“It is refreshing to see that the Republicans finally recognize that the governor has failed on the economy. New Jersey’s recovery has lagged far behind the country and our neighboring states because the governor has no plan to create jobs or to stimulate economic growth,” said Richard McGrath, spokesman for the Senate Democrats. “In fact, Democrats have sent the governor numerous job-creating bills but he has vetoed most of them. We will review these proposals to determine if they will help our economy. What’s needed is a far-reaching plan that spurs growth and invests in economic opportunities for everyone.” (editors note : try not to laugh on this one)

At a news conference Thursday morning to announce the package, legislators highlighted some of the problems that they said have stymied the state’s job growth.

For example, the state tourism council has not met in 12 years, said Sen. Robert Singer, R-Ocean. And although tourism generates $40 billion a year, the state has not done enough to promote what it has to offer, he said. A bill sponsored by Singer would overhaul tourism advertising and marketing, and it would create a mobile phone application to feature the state’s attractions.

There is also a skills gap in New Jersey, said Sen. Diane Allen, R-Burlington, who sponsors three of the four workforce development bills in the package. One of them would expand career and technical education, while another would help out-of-work casino employees get training for jobs in industries in South Jersey.

Legislators are also focusing on cutting red tape for businesses. One bill would create a task force whose goal is to digitize state permits, licenses and grants. Another bill would roll back “cumbersome” regulations on small business owners, while another would allow state agencies to offer online permitting “whenever possible” in order to move projects along faster.

The Republicans also defended New Jersey’s sluggish job growth. Although the state unemployment rate is at 6.5 percent, a percentage point higher than the national average of 5.5 percent, they said the state is adding jobs and moving in the proper

https://www.northjersey.com/news/n-j-senate-republicans-unveil-36-bill-jobs-package-1.1316493

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Jon Corzine Considers Launching Hedge Fund

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Plan would mark return to finance for embattled former MF Global CEO

By JULIE STEINBERG and ROB COPELAND
April 19, 2015 7:05 p.m. ET
182 COMMENTS

Jon S. Corzine, the embattled former MF Global Holdings Ltd. chief executive and ex-chairman of Goldman Sachs Group Inc., has discussed plans to start his own hedge fund in recent months, according to people familiar with the matter.

The fund would start with cash from Mr. Corzine’s personal wealth and a handful of outside investors. Mr. Corzine said he had been speaking with about a half-dozen potential investors, and projected around $150 million in assets under management, one of the people said.

The plans are tentative and could evolve or fall apart in coming months. But a launch would mark an unlikely return to high finance for Mr. Corzine, the 68-year-old former Democratic U.S. senator and New Jersey governor who has stayed out of the limelight since commodities brokerage MF Global declared bankruptcy in 2011.

https://www.wsj.com/articles/jon-corzine-considers-launching-hedge-fund-1429484718

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Uber, Lyft Rider Safety or Union Push to Raise Rates

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Uber, Lyft Rider Safety or Union Push to Raise Rates

APRIL 18, 2015, 3:27 PM    LAST UPDATED: SATURDAY, APRIL 18, 2015, 3:27 PM
ASSOCIATED PRESS

TRENTON, N.J. (AP) — Ride-hailing companies like Uber and Lyft could be driven out of New Jersey if a bill lawmakers are considering becomes law.

That’s at least what the transportation network companies faced with potential new regulations say. Lawmakers, unionized taxicab drivers and other supporters of the legislation argue the bill promotes public safety.

Lawmakers across the country are beginning to turn their attention to regulating ride-hailing firms. Already eight states and the District of Columbia have enacted laws addressing them, according to a tally from the Property Casualty Insurers Association of America, a trade group that supports the bill in New Jersey. Four other states await action on measures from their governors.

In New Jersey, legislators are beginning to focus on Gov. Chris Christie’s 2016 budget, so a bipartisan measure regulating the ride-hailing companies is stalled at the moment after passing an Assembly committee in March — though lawmakers and other observers are optimistic it will continue to weave its way through the Legislature.

A similar bill in the state Senate is awaiting committee action. Christie typically does not comment on bills before they reach his desk.

The legislation calls for a number of new requirements, including requiring ride-hailing firms to display a Motor Vehicle Commission marker when drivers are searching for fares, background checks for drivers as well as safety inspections for vehicles.

Proponents argue the measure protects riders from public safety concerns by requiring criminal background checks through the State Police. They also say the bill would “level the playing field” between ride-hailing firms, which frequently charge lower rates, and taxis, which are already heavily regulated.

Lionel Leach, the president of Communication Workers of America Local 1039, which represents about 300 cab drivers in New Jersey, pointed to a recent news report that alleged a rider nearly became the robbery victim of a driver. New Jersey does not track crime statistics by cab, livery or ride-hailing services, making claims difficult to vet.

Leach says companies like Uber have given taxicab drivers a wakeup call by innovating and that ride-booking companies improve the industry overall. “Look, at the end of the day, it’s great technology,” he said. “But my concern is not about how cheap their fares are. It’s the public safety part of it.”

The companies say they’re dedicated to safety. Uber announced plans last month to establish a safety advisory board to review the firm’s practices.

Uber and Lyft have also taken steps to expand insurance coverage, a major sticking point in the regulations debate.

https://www.northjersey.com/news/new-jersey-grapples-with-how-whether-to-regulate-uber-lyft-1.1312059

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Don’t panic, college seniors: Jobs for grads likely to grow

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APRIL 17, 2015    LAST UPDATED: FRIDAY, APRIL 17, 2015, 1:21 AM
BY PAUL WISEMAN
THE ASSOCIATED PRESS |
WIRE SERVICE

* After struggles spurred by the Great Recession, job picture brightens

WASHINGTON — The consulting and accounting firm EY is aggressively recruiting on college campuses this spring. The company formerly known as Ernst & Young plans to hire 9,000 graduates from U.S. universities this year, up from 7,500 in 2014. But recruiting isn’t as easy as it used to be.

“I’m seeing a lot more competition” from rival employers, said Dan Black, EY’s Americas recruiting leader.

That’s good news for college seniors and graduate students preparing to accept diplomas this spring, and a sign that new graduates will fare better than they did in 2014. The Labor Department reported on Thursday that the unemployment rate for Americans in their 20s who received a four-year or advanced degree last year rose to 12.4 percent from 10.9 percent in 2013.

“This is a real breakout year,” said Philip Gardner, director of Michigan State University’s Collegiate Employment Research Institute.

In a survey of employers last fall, the employment center found that hiring of graduates with four-year degrees will rise 16 percent this year.

“It’s led by the ones you would expect — engineering and business,” Gardner said. “But there seems to be a lot of room for everybody. … Even arts and humanities are making a comeback.”

Employers have more openings to fill because baby boomers are retiring and more workers are feeling confident enough about the economy to switch jobs. Overall, the United States generated 3.1 million jobs last year, the most since 1999. The overall unemployment rate has fallen to 5.5 percent in March from 6.7 percent at the end of 2013.

https://www.northjersey.com/news/business/college-graduates-on-way-to-breakout-year-for-hiring-1.1311334

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More Payback for Not Taking the Bailout Money ; Hudson City facing federal probe

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A sad end for Hudson City Savings Bank ( Hudson City did not take the Federal Bailout)

https://www.crainsnewyork.com/article/20120827/BLOGS02/308279995/a-sad-end-for-hudson-city-savings-bank

APRIL 16, 2015    LAST UPDATED: THURSDAY, APRIL 16, 2015, 1:21 AM
BY RICHARD NEWMAN
STAFF WRITER |
THE RECORD

* Federal agencies checking for racial bias in lending

The sale of Hudson City Bancorp Inc. to M&T Bank Corp. may face a new obstacle: a government investigation into whether the parent company of Paramus-based Hudson City Savings Bank violated the Fair Housing Act by discriminating against protected minorities when making loans.

The Justice Department and the Consumer Financial Protection Bureau are examining whether Hudson City ran afoul of the federal housing discrimination law, Bloomberg News reported Wednesday.

“A preliminary CFPB review concluded that the firm denied loans to people in minority communities, including those in the New York area,” said the report, which attributed that information to “two people familiar with the matter.”

The acquisition by M&T, valued at $3.7 billion when it was announced in August 2012, has been delayed several times in part because of a federal regulator’s concerns about the strength of M&T’s anti-money-laundering defenses. Hudson City said this month that it had been advised by Buffalo, N.Y.-based M&T that the deal would not close on May 1, the previously announced target date.

Hudson City Chief Executive Officer Denis Salamone and Susan Munhall, head of the bank’s investor relations, did not respond Wednesday to requests for comment on the Bloomberg report.

Representatives of the consumer board and the U.S. Attorney’s Office in New Jersey said they had no comment.

Jumbo-mortgage lender Hudson City makes a majority of its loans in New Jersey and New York and focuses on the higher-end real estate market. It has received an overall “satisfactory” rating on its latest Community Reinvestment Act exam and a “low satisfactory” rating on the community lending subsection of the exam.

The Record reported in 2012 that fair-lending watchdogs in New York City and New Jersey had asked the Federal Reserve Board to hold hearings on M&T’s merger application. They were concerned that Hudson City’s black and Hispanic loan-denial rates were higher than those for whites and that the bank made very few conventional home purchase loans to black borrowers. No hearings have been held, but the acquisition has been delayed amid regulatory concerns, and the Federal Reserve has not ruled on the merger application.

https://www.northjersey.com/news/business/hudson-city-faces-probe-1.1310555

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NJ’s industrial space in high demand in first quarter

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APRIL 16, 2015    LAST UPDATED: THURSDAY, APRIL 16, 2015, 1:21 AM
BY KATHLEEN LYNN
STAFF WRITER |
THE RECORD

* Bergen, Passaic benefit, aided by rise in port activity and need for warehouses

Spurred by increased activity at the port, industrial space remains in high demand in New Jersey, with a vacancy rate of 8 percent in the first quarter, according to a new report from the commercial real estate firm Cushman & Wakefield in East Rutherford.

Space is even tighter in Bergen County, with a 7 percent vacancy rate in the first quarter, down from 8.3 percent in the first quarter of 2014, and Passaic, with a 5 percent rate, down from 7 percent.

The growing demand for industrial space reflects a 7 percent rise in activity at the Port of New York and New Jersey, which has increased the need for warehouse and distribution sites in the state, according to Ron Lo Russo, president of Cushman & Wakefield’s tri-state region.

“As both online retail sales and manufacturing are expected to trend higher, the New Jersey industrial market is earning a position as one of the healthiest markets in the nation,” Lo Russo said in a statement.

A rise in e-commerce has led to more demand for warehouse space in this densely populated region, as online retailers aim for quick deliveries to their customers.

https://www.northjersey.com/news/business/demand-for-n-j-industrial-space-growing-1.1310550

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Prosecutor: Montvale businessman made “tens of millions” in fraud

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Prosecutor: Montvale businessman made “tens of millions” in fraud

APRIL 16, 2015    LAST UPDATED: THURSDAY, APRIL 16, 2015, 1:21 AM
STAFF WRITER |
THE RECORD

* Faces up to life in prison and $134.5M in fines for a scheme that bilked the federal government

“April 15, tax day, is a fitting date for Mr. Furando to accept responsibility for his crimes, which defrauded U.S. taxpayers of tens of millions of dollars.”

JOSH J. MINKER, U.S. ATTORNEY FOR THE SOUTHERN DISTRICT OF INDIANA

A Montvale businessman earned tens of millions of dollars as part of one of the largest frauds in Indiana history, prosecutors said on Wednesday after he pleaded guilty to conspiracy, fraud and other charges.

Joseph Furando, 49, and two companies he owned, Cima Green LLC and the Caravan Trading Co., both in Park Ridge at the time of the crimes, pleaded guilty in U.S. District Court in Indiana to participation in a scheme that prosecutors said fraudulently sold more than 35 million gallons of fuel that cost $145.5 million.

No date was set for Furando’s sentencing.

The pleas, following a guilty plea in August by a Ridgewood businesswoman who worked for Furando, Evelyn Katirina Pattison, also known as Katirina Tracy, leave three Indiana-based defendants to face trial in the case beginning on May 11 in Indianapolis.

“April 15, tax day, is a fitting date for Mr. Furando to accept responsibility for his crimes, which defrauded U.S. taxpayers of tens of millions of dollars that Congress appropriated for energy independence and a cleaner environment for all of us,” said Josh J. Minker, the U.S. attorney for the Southern District of Indiana.

Furando, who described the scheme to colleagues as “alchemy,” abused a federal program that offered companies a tax break for using environmentally friendly biodiesel, which contains recycled oil, prosecutors said.

Although the program awarded only one tax credit for each gallon used, Furando and his companies bought biodiesel that had already earned the tax credit and sold it to an Indiana company, E-biofuels, as newly produced fuel, prosecutors said.

E-biofuels then sold the fuel and claimed a new tax credit, selling the fuel at an inflated market price because it had the credit attached, prosecutors said.

The scheme realized “huge per gallon profits” for all the conspirators, sometimes more than $12,000 a truckload, prosecutors said.

https://www.northjersey.com/news/business/montvale-exec-pleads-guilty-in-biofuel-tax-fraud-1.1310536

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Google faces European charge it abused search dominance

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by Stephen Shankland
@stshank
April 15, 2015 4:03 AM PDT

The European Commission opens a legal case that could change how Google search works — and impose a massive fine. It also begins an inquiry about Android.

Europe’s antitrust regulator dramatically escalated its case against Google on Wednesday, accusing the US tech titan of abusing its search-engine dominanceby favoring its own shopping services and also opening in-depth scrutiny of the company’s Android operating system.

Google’s actions show its own comparison-shopping results even when they’re less relevant than results from competitors, curtailing innovation at those rivals and hurting consumers, said European Competition Commissioner Margrethe Vestager in a press conference.

“Dominance as such is not a problem,” Vestager said. “However, dominant companies have a responsibility not to abuse their powerful market position by restricting competition either in markets where they’re dominant or in neighboring markets.”

The EC’s action, called a statement of objections, opens the door for potentially massive fines such as those the European Commission levied against Microsoft and Intel after findings of antitrust abuses by those companies. Enforcement actions could include changes to Google’s way of doing business and a penalty as high as 10 percent of its global revenue. Given Google’s $66 billion ($62 billion euros) in revenue in 2014, that could mean a fine of up to $6.6 billion.

What’s at stake is not just a very big fine for a very wealthy tech company, though. Closer to home for consumers is the question of whether Google search will lead us to products and services from other companies or instead keep us hemmed in within Google’s ever-expanding universe of commercial activities.

https://www.cnet.com/news/google-faces-european-charge-it-abused-search-dominance/

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Kill the death tax

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By Thomas Fletcher – – Tuesday, April 14, 2015

With the federal budget debate underway in Washington, both political parties are certainly sparring over different fiscal visions for the country. There is, however, a chance for rare bi-partisan agreement: repealing the federal death tax.

This unpopular tax has long had an adverse impact on small, family business owners who want the next generation to continue the family legacy. Currently, the federal government seizes over 40 percent of an individual’s estate when they die. While the President wants to destroy so many of those legacies and raise taxes, Congress has the chance to go in a different direction.

Federal lawmakers should look to the states for guidance. While twenty-one of them carry an additional death tax on their books, many states have reformed and in some cases eliminated the death tax in recent years. States such as Oklahoma, Ohio, and North Carolina simply abolished their death taxes. Other states like New York have raised their exemption to match current federal law, although the New York exemption is a phase-in and will match the federal level by 2019.

Supporters often claim that the death tax is vital for revenue, but in reality it is a poor way for a state to raise revenue and has led people to leave a given state. According to a study by the Ocean State Research Institute, the death tax was the primary factor in residents leaving Rhode Island. The study found 107,086 or (one in ten) residents left the state between 1991 and 2009. While the state collected $341.3 million in estate tax receipts, it lost over $500 million in other taxes due to people migrating to other states.

Read more: https://www.washingtontimes.com/news/2015/apr/14/thomas-fletcher-kill-death-tax/?utm_campaign=sniply&utm_medium=sniply&utm_source=sniply#ixzz3XPFSfL4i

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10 Things Not To Do On Tax Day

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Kelly Phillips Erb Contributor

Happy Tax Day! You’ve probably read a ton of lists by now advising you about last minute filing tips and how to reduce your tax bill. That’s all good stuff. But as you finish up the last minute scramble to get yourtaxes filed, here’s a quick list of what not to do:

1. Fib on your taxes and think you’ll pay later.Don’t cheat to get your money faster – or to avoid paying what you owe now. Lying on your return is wrong. It’s also criminal. Even assuming that you don’t get charged criminally for fraud, the IRS does track patterns of tax behaviors: if they notice a pattern of bad filing behavior (filing now to avoid paying, for example), you’ll eventually be flagged. In addition to slowing future refunds, causing delays in processing and potentially increasing your audit risk, you’ll also get socked with a pretty nasty tax bill. You’ll eventually have to pay what you owe plus penalty and interest.

2. Call your tax professional for anything other than an extension.Lean in closely for this one and listen very carefully. Your tax professional may be awesome. Your tax professional may love you as a client. Your tax professional may be thrilled to have your business. But – and this is important – your tax professional doesn’t want to hear from you today. Really. Unless you’re filing for an extension, put the phone down. It isn’t likely that you can bring in your tax information for the first time on Tax Day and expect to file a reasonably correct tax return on time: all you can do at this point in most circumstances is file for extension. And if you’ve found a mistake on your return? You’ll want to amend using good ol’ form 1040X… next week. Not today. It’s been a long, busy season. Cut your tax professional a break.

3. Spend your refund when it’s not in pocket. If your tax return says that Uncle Sam owes you money – and not the other way around – the temptation is to want to spend it. Right now. And why not? It’s good news, right? But don’t rush to the web to plan that dream vacation or plop a deposit down on a brand new car until you actually have cash in pocket. There could be a delay in processing your return or you could be subject to offset. You might have made a calculation error, overstated a deduction or understated your income. Your refund might be held due to concerns about a duplicate Social Security number or an injured spouse claim. Most of the time, IRS gets it right and statistically, refunds were processed fairly quickly this year. ButVisa V +0.37% doesn’t accept “I’m eventually getting a tax refund” for payment. So be smart, plan ahead and don’t spend your refund in advance.

4. Head out for the post office at 4:55pm. If you’re going to have a Murphy’s Law moment, it’s bound to be on Tax Day. According to a study in the Journal of the American Medical Association, deaths from traffic accidents rise 6% on Tax Day. Combine the rush with the extra stress – and in many parts of the country today (including mine), some pretty terrible weather and you’re bound to increase your odds of something bad happening. And even assuming that something terrible doesn’t happen (and I hope that it doesn’t), you don’t want to take a chance on missing that postmark. Check the post office website for post offices with extended hours today – or better yet, leave a few minutes early.

5. Call the IRS. On a routine day, the chances of the IRS actually picking up the phone are about 7 in 10. And if you are one of the lucky taxpayers to get through to IRS, you’re going to have to wait. On Tax Day, those statistics are even more dire. Don’t assume that you can camp out at your phone today and still meet your filing deadline. If you’re worried about timing, you need to file for an extension and figure it out later (but see #7).

6. Forget to sign your return. I know the feeling. You are so glad to be done that you swoop out of the office, tax return in hand on your way to have Tax Day done for good. Don’t be so glad to be done that you forget to sign your return. A tax return is not considered timely filed if you don’t sign it properly – and if you’re married, that means both spouses have to sign. So take a moment to look your return over and make sure that your signature is at the bottom.

https://www.forbes.com/sites/kellyphillipserb/2015/04/15/9-things-not-to-do-on-tax-day/

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New Jersey Makes the Top of the State Income Tax List

PIT-2015

April 15, 2015
By
Jared Walczak,
Richard Borean

This week’s tax map presents the highest individual income tax rates in each state for 2015 (full report on state income tax rates: here). Income taxes are a major, and often complicated, component of state revenues. Furthermore, unlike sales or excise taxes which individuals pay indirectly, income taxes are levied directly on individuals, meaning that income taxes are usually featured prominently in any discussion of tax burdens and public policies.

Income taxes are structured in many different ways throughout the states. Some are flat systems with one rate for all income, while other states offer progressive systems taxing different levels of income at different rates, and some states have no income tax at all.

These taxes are also subject to change: over the past two years, eight states (Illinois, Indiana, Kansas, Massachusetts, North Carolina, North Dakota, Ohio, and Wisconsin) and the District of Columbia reduced income taxes, and one state (Minnesota) increased income taxes.

For the most up-to-date data available on current state tax rates and brackets, standard deductions, and per-filer personal exemptions for individuals filing singly, see our report here.

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April 15th : Before 1913, federal income taxes were rare and short-lived

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Before 1913, federal income taxes were rare and short-lived. America became the most prosperous nation on earth. The U.S. Government did not try to police the world or play “nanny” to everyone from cradle to grave. People took responsibility for themselves, their families, and their communities. That is how the founders of America thought it should be. And it worked. It can again!

To read more on taxes:
https://www.lp.org/issues/taxes