N.J. Business and Industry Assoc. praises two new business-friendly laws

The N.J. Business and Industry Association praised two laws signed by Gov. Christie Thursday to assist the business climate.

“New laws reforming state business taxes send a very clear signal to businesses both in New Jersey and in other states that the Governor and the Legislature are serious about improving the economy and creating jobs,” Association President Philip Kirschner said in a release.

Christie signed two laws, one enacting single-sales-factor tax reform, which eliminates what was commonly referred to as an investment tax, and the other allowing businesses that pay taxes through the gross income tax instead of the corporate business tax to offset losses between different income categories and allow losses to be carried forward for 20 years.

“For years, New Jersey has been an outlier when it comes to business taxes,” Kirschner said. “Today’s actions send a very clear signal to businesses both in New Jersey and in other states that the Governor and the Legislature are serious about improving the economy and creating jobs.”

NJBIA said it has been advocating for these tax changes as far back as 2001.

http://www.politickernj.com/47177/christie-signs-jobs-bills

N.J. Business and Industry Assoc. praises two new business-friendly laws