Assemblyman Ruben Ramos Jr., (D-33), of Hudson, has introduced legislation to eliminate unnecessary taxes on imported goods.
“This legislation is designed to reduce the state’s overall tax burden on businesses,” Ramos said Monday in a release. “This is an actual tax cut that will make our state more competitive.”
Under the proposal, A3833, the state would no longer impose a corporation business tax on businesses that import goods and temporarily store them at a receiving facility before they go on to Customs.
“New Jersey has some of the most competitive ports on the East Coast,” Ramos said. “This bill makes our ports more competitive and we need that in this global market.”