NJ governor signs tax hike for transit in new budget - POLITICO
WEBUpdated: 06/29/2024 08:38 AM EDT. TRENTON, New Jersey — New Jersey Gov. Phil Murphy late Friday signed a $56.6 billion spending plan and a tax hike on the state’s largest corporations to fund ...
Murphy signs record N.J. budget with tax hike, property tax ... - nj.com
WEBJun 28, 2024 · The tax ( A4704 ), which is retroactive to Jan. 1, 2024, will net the agency $1 billion a year before it ends in December 2028, although NJ Transit will not start receiving the money until...
Murphy, top lawmakers reach deal on N.J. tax increase - nj.com
WEBJun 21, 2024 · With a critical deadline fast approaching, state leaders have tentatively agreed on a plan to temporarily hike taxes on New Jersey’s most profitable companies to help fund mass transit and will ...
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....
Gov. Murphy signs record-setting $56.6B state budget
WEBJun 28, 2024 · A new 2.5% surtax on businesses with more than $10 million in profit that will be retroactively imposed on the first six months of 2024 is forecast to bring $1 billion into state coffers. Those funds will be dedicated to NJ Transit in future years when it is expected to bring in about $800 million annually.
New Jersey Governor Signs Budget Boosting Taxes on …
WEBJun 29, 2024 · TRENTON, N.J. (AP) — New Jersey Democratic Gov. Phil Murphy signed a $56.6 billion budget moments before midnight Friday, hiking taxes on high-earning corporations to help the state's transit ...
Governor Murphy Signs Fiscal Year 2025 Budget into Law
WEBJun 28, 2024 · Budget Provides Significant Property Tax Relief, the Highest Level of School Funding in History, A Fourth Consecutive Full Pension Payment, and a New Dedicated Funding Stream for NJ TRANSIT. $6.1 Billion Surplus to Help Weather Future Financial Challenges. TRENTON – Governor Phil Murphy today signed the Fiscal Year 2025 Appropriations Act ...
What’s in, what’s out of NJ budget? | NJ Spotlight News
WEBJun 28, 2024 · What’s in? 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.
Murphy unveils $56B N.J. budget with new tax to fund NJ Transit ...
WEBFeb 27, 2024 · Gov. Phil Murphy on Tuesday unveiled a proposed $55.9 billion state budget that calls for a new tax on New Jersey’s largest corporations to help fund financially strapped NJ Transit, as well...
Murphy’s $55.9 billion budget includes plan for NJ Transit
WEBFeb 27, 2024 · New Jersey Gov. Phil Murphy is biting a political bullet to raise business taxes on the state’s largest companies in order to find hundreds of millions of dollars a year to fund its...
Skip to content