November 30, 2023 | njspotlightnews.org
In a matter of weeks, a state law will trigger the planned end to a hotly-debated, temporary tax surcharge that for the last several years has been levied on the incomes of New Jersey’s top-earning corporations. Read More: Click Here NJ SEED: With a top Corporate Business Tax rate of 11.5%, NJ ranks as the worst in the nation for business taxes. New York and Philadelphia metropolitan areas, two of the country’s largest markets, keep NJ attractive for business – not its tax climate. Some legislators and advocates are pressing to extend the surcharge. Should they succeed they will give credence to the saying that there are few things as permanent as a temporary tax.