NJ Gov Signs $56.6 Billion FY 2025 Budget Into Law
WEB2 days ago · New Jersey Governor Phil Murphy signed a $56.6 billion spending plan that includes a significant tax hike on the state’s largest corporations to fund public transportation. Starting July 1, the ...
Governor Murphy Signs Fiscal Year 2025 Budget into Law
WEBJun 28, 2024 · With this budget, the State has increased overall K-12 support to New Jersey’s public schools by more than $3.5 billion over seven years, a more than 40 percent increase, all of which helps offset local property taxes.
Murphy signs record N.J. budget with tax hike, property tax …
WEBJun 28, 2024 · It’s bolstered by a new tax hike on large companies, includes some new funding for property-tax relief, and features big money for public schools and pensions.
New Jersey lawmakers advance $56.6 billion budget, hiking taxes …
WEBJun 27, 2024 · TRENTON, N.J. (AP) — New Jersey lawmakers unveiled and advanced on Wednesday a $56.6 billion budget, up 4.2% over the current year’s spending plan, hiking taxes on high-earning businesses and allocating …
NJ 2025 state budget passes, signed into law by Phil Murphy
WEBJun 28, 2024 · A $56.6 billion spending plan for New Jersey that puts in place a new tax to fund NJ Transit, makes a full pension payment and covers the state's school funding formula was signed by Gov....
Tax hike speeds ahead in late-night vote on record N.J. budget
WEBJun 27, 2024 · A 2.5% surtax — known as a “corporate transit fee” — on the 600 companies in New Jersey that make at least $10 million. It is slated to provide money to NJ Transit, the state’s bus and ...
Official Site of The State of New Jersey - The Official Web Site for ...
WEBFeb 27, 2024 · Governor Murphy’s proposed budget includes more than $3.5 billion in direct property tax relief. The budget proposal once again funds the successful ANCHOR Property Tax Relief Program, which provided $2.2 billion to more than 1.9 million residents in the most recent filing season.
New Jersey’s proposed $56.6 billion budget: What to know - NBC New …
WEBJun 27, 2024 · New Jersey lawmakers are poised to send a $56.6 billion fiscal year 2025 budget to Democratic Gov. Phil Murphy this week, hiking taxes on high-earning businesses and funding for many state...
What’s in, what’s out of NJ budget? | NJ Spotlight News
WEBJun 28, 2024 · Revenue from tax hikes: To push total annual spending up to $56.6 billion, the new budget counts on raising more than $1 billion by hiking taxes. These include a new tax on the most profitable corporations and a 1% hike of the existing fee on HMO (health maintenance organization) premiums.
New Jersey passes budget that boosts taxes on companies …
WEBFor businesses making over $10 million a year, the budget carries a tax increase, hiking the top corporate rate to 11.5% for those firms, up from 9%. Murphy, also a Democrat, proposed what he ...