New Jersey’s 11.5% Corporate Tax Triggers Mass Corporate Exodus: Over $730M in Revenue Flees State
the staff of the ridgewood blog
Trenton NJ, A damning new report from an independent state research group has laid bare a worsening economic crisis in New Jersey, detailing a massive loss of corporate revenue and thousands of jobs as major brands flee to more business-friendly states.
The report, titled “Missed Opportunities,” was recently published by Focus NJ, a nonpartisan, nonprofit research organization. The study outlines the catastrophic fallout from New Jersey’s current 11.5% effective corporate business tax rate—the highest in the United States.
