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Halloween Comes Early : Governor Murphy’s Scary State Budget Taxes ,Taxes and More Taxes

Phil Murphy

the staff of the Ridgewood blog

Trenton NJ, NJBIA President and CEO Michele Siekerka issued the following statement regarding today’s announcement of an agreement between Governor Murphy and legislative leadership to expand the base of those will pay the state’s gross income tax rate from 8.97% to 10.75%.

“This tax increase in exchange for suggested middle class relief is a gimmick that further verifies what we have said all along – increased taxes were always completely unnecessary as part of the FY2021 budget that already includes billions in bonding.

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