Tag: fleeing nj

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NJ CD-1 GOP candidate Josh Duvall Calls The Independent Contractor bill nothing more than a mafia-style shakedown

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the staff of the Ridgewood blog

Paramus NJ, “The Netflix blockbuster, ‘The Irishman’ and the state of New Jersey have something in common – they’re both experts in small business shakedowns.”

“Now, facing more than $200 Billion in debt, ranking 50th in the nation in financial health, and burdening every taxpayer with a $65,000 share of the bill (on top of the nations highest income and property taxes, source: https://www.truthinaccounting.org/library/doclib/NJ-2018-2pager.pdf) they have decided to double down their attacks on small business owners like you and me.”

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Murphy Administration Focuses on Raising the SALT Cap Instead of lowering the Coast of NJ Government through Structural Reforms

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the staff of the Ridgewood blog

Trenton NJ, Senator Steven Oroho said the Murphy Administration should widen its focus beyond efforts to lift the cap on the federal income tax deduction for state and local taxes (SALT) by joining bipartisan efforts to lower the combined tax burden of New Jersey families:

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New Jersey Assembly Passes Bill to Restore Vote to People on Parole and Probation

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the staff of the Ridgewood blog

Trenton NJ,  U.S. Senator Cory Booker (D-NJ), a member of the Senate Judiciary Committee, released the following statement on the New Jersey State Assembly’s passage today of a measure to reinstate voting rights for New Jerseyans on parole and probation:

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Senate Republican Leader Tom Kean says ,”Lifting 2% Property Tax Cap Is Not the Answer to School Funding Cuts”

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the staff of the Ridgewood blog

Trenton NJ, Senate Republican Leader Tom Kean said a proposal to lift New Jersey’s successful two-percent property tax cap is the wrong answer to counter major school funding cuts that are hitting many districts through the enactment of S-2:

Sen. Tom Kean said lifting New Jersey’s successful 2% property tax cap is the wrong answer to counter major school funding cuts that are hitting many districts through the enactment of S-2. (Pixabay)

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Murphy Administration Tries to Shut Down GIG Economy in New Jersey

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the staff of the Ridgewood blog

Trenton NJ,  The fix is in! Governor Murphy and legislative Democrats are fast-tracking a law that will upend the lives of hundreds of thousands of New Jersey businesses and families  The law prevents independent contractors from working for businesses unless the contractor is hired as an official employee of the business.  The move will generate millions in new taxes, proving it’s just another Democratic tax grab at the expense of New Jersey’s hard working families.

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The Garden State Initiative/FDU Poll: Nearly Half of Residents Planning To leave NJ Citing Property Taxes and Cost of Living, Not the Weather

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the staff of the Ridgewood blog

Morristown NJ, in a recent Garden State Initiative/FDU poll ,as New Jersey families gather around the Thanksgiving table many will be having a similar conversation – their plans to leave New Jersey. According to a recent survey conducted for the Garden State Initiative (GSI) and Fairleigh Dickinson University’s School of Public & Global Affairs, 44% of New Jersey residents are planning to leave the state in the not so distant future with more than 1 in 4 (28%) planning to depart the Garden State within 5 years. Unsurprisingly, Property Taxes and the overall Cost of Living were cited as the main drivers. The results also debunk two issues frequently cited in anecdotal accounts of outmigration, weather and public transportation, as they ranked 8th and 10th respectively, out of 11 factors offered.

Continue reading The Garden State Initiative/FDU Poll: Nearly Half of Residents Planning To leave NJ Citing Property Taxes and Cost of Living, Not the Weather
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Murphy Administration Goes After Uber for Payroll taxes

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the staff of the Ridgewood blog

Ridgewood NJ, the Murphy Administration is looking to harvest nearly $650 million in back taxes and penalties from Uber Technologies, making New Jersey the latest front in a nationwide battle over whether drivers who work for ridesharing companies are considered employees or independent contractors.

Uber and subsidiary Rasier were assessed $523 million in past-due taxes during the past four years for misclassifying drivers, the New Jersey Department of Labor said in letters to the companies, according to Bloomberg Law. The rideshare businesses also are on the hook for as much as $119 million in interest and penalties on the unpaid amounts, internal department documents obtained by the news service show.

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Elected public officials have a responsibility to deliver essential public services at the lowest possible cost to taxpayers

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The following editorial by Senator Mike Doherty was published by NJ.com on November 8, 2019:

Elected public officials have a responsibility to deliver essential public services at the lowest possible cost to taxpayers. Too often, however, we see officials at all levels of government resigned to the notion that New Jersey will always be a high-cost place. They accept as fact that it’s impossible to fix our roads or build new schools without levying the highest taxes in the nation.

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New Jersey Small Business at the Breaking Point

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the staff of the Ridgewood blog

Ridgewood NJ, NJBIA President and CEO Michele N. Siekerka Esq. issued the following statement today regarding the current lame duck session of New Jersey’s Legislature.

“NJBIA urges our lawmakers to hit the pause button on policies and mandates that add increased burdens on New Jersey businesses, both small and large, as legislators work on their priorities for the close of the current Legislative session.

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Three out of four accountants agree that when it comes to finding relief from rising business and personal taxes, the answer often is “anywhere but here.”

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by Ralph Albert Thomas, CPA(DC), CGMA

CEO and Executive Director, NJCPA

A recent survey of New Jersey Society of Certified Public Accountants (NJCPA) members found that 75 percent of CPAs have advised some clients to relocate their homes or businesses outside of New Jersey to reduce their tax burdens.

Continue reading Three out of four accountants agree that when it comes to finding relief from rising business and personal taxes, the answer often is “anywhere but here.”
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Governor Murphy Tells Residents to Leave if They Don’t Like the High Taxes

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the staff of the Ridgewood blog

Trenton NJ, Senator Declan O’Scanlon said the governor showed his true colors when he suggested to business leaders at Rowan College that New Jersey may not be their state if they are concerned about tax rates.

“It’s outrageous that Gov. Murphy is telling families and employers they can ‘take it or leave it’ if they have a problem with New Jersey’s high taxes,” said O’Scanlon (R-Monmouth). “He should be working with the Republican caucus to make New Jersey more affordable. He should be listening to everyone who is telling him they can’t pay more and the many analysts and independent ratings agencies sounding the alarm that New Jersey is headed for disaster if we don’t get our fiscal house in order.  Suggesting our highest earning – and the top-taxpaying – residents might be better off leaving is exactly the wrong message.”

In a report for KYW Newsradio, Murphy was quoted: “If you’re a one issue voter and tax rate is your issue … if that’s the only basis upon which you’re going to make a decision, we’re probably not your state.”

“If you don’t like it, get out? That’s no way to treat the employers who are providing jobs and benefits for New Jersey families,” said O’Scanlon. “Murphy is so obsessed with spending money on his leftist priorities that he is daring employers to load up the trucks and leave. That’s a dangerous message that may cost people their jobs.”

Last year, twice as many people moved out of the state than moved in. Once again, New Jersey lost more people than any other state as the population slumped to pre-2013 levels. And it’s high-net-worth and high earners – who already have houses in Florida – that have the lowest barriers to moving and have the most to gain by doing so.

New Jersey is ranked No. 5 in Kipplinger’s list of “The 10 Least Tax-Friendly States in the U.S.” The publication said the state “brings the hammer down” on residents when they buy a home with property taxes that are the highest in the nation. “The state-wide average property tax on a $400,000 home in New Jersey comes to a whopping $10,120,” the report said.

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New Jersey’s structural challenges continue to hold back the state from achieving competitiveness

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the staff of the Ridgewood blog

Ridgewood NJ, Tom Bracken and Michele Siekerka of Opportunity New Jersey (ONJ) are on a mission to make New Jersey more attractive for businesses — and more affordable for employers and residents. The two business leaders presented this week at a meeting of the Greater Atlantic City Chamber of Commerce board of directors, where they spoke of the importance of putting the state’s economy on the right track.

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WallHub Claims New Jersey is the 5th Happiest State ?

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the staff of the Ridgewood blog

Ridgewood NJ, in 2018 New Jersey became the No. 1 state to move away from , according to new data from moving and relocation company United Vans Lines.

The top reason why residents left was for a professional opportunity, the United Vans Lines data shows. Of all the residents who moved out, 46 percent listed “job” as the deciding factor.“A leading motivation behind these migration patterns across all regions,” in fact, “is a career change,” the report says. About “one out of every two people who moved in the past year moved for a new job or company transfer.”

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Call For Tax Cuts, not Incentives

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the staff of the Ridgewood blog

TRENTON, NJ, The Select Senate Committee on Economic Growth Strategies held a hearing yesterday with a panel of national experts who were largely critical of the Economic Development Authority’s controversial tax incentive program. Assemblyman John DiMaio, the Republican budget officer, echoed the experts’ sentiments that there are better strategies to accomplish the same goals.

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25% OF NJ PUBLIC EMPLOYEE PENSIONS PAID TO OUT OF STATE RESIDENTS

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the staff of the Ridgewood blog

Ridgewood NJ, according to analysis done by Garden State Initiative this year nearly $2.6 billion in pension payments, almost 25% of all payments, will be headed out of state, two and a half times the national rate.

GSI says ,”As of July 1, 2019, a total of 332,556 retirees were collecting pension payments from the state, with monthly payments totaling nearly $950 million, or over $11 billion annually.”

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