Nobody likes a tax hike. It especially hurts when you’re already tops for taxes in the nation. New Jersey, which holds the distinction of having the highest tax burden in the nation for three years running, has been pushing back at a budget with increases that Governor Christie (R) insists are necessary. This week, the…
LeBron James is a wanted man. Just after the first day of the NBA free-agent signing period, at least six teams (including his current team, the Cleveland Cavaliers) want a sit down to discuss a deal. Of course, you and I both know that the Cavs don’t have a chance. Despite being able to offer…
New Jersey Governor Chris Christie (R) wasn’t kidding when he claimed he would veto the so-called “millionaire’s tax” bill. Moments after the Senate passed the bill on a 46-32 vote, Senate President Steve Sweeney walked the bill down to Gov. Christie, who was waiting with his veto pen. Christie vetoed the bills immediately. Christie’s official…
The New Jersey Supreme Court kicked off its week with Klummp v. Borough of Avalon, a property “takings” case. In the case, the Klummps owned property on the shore in Avalon. In 1962, the borough seized their property and began to clear it following a borough council meeting and resolution. They proceeded to build sand…
New Jersey Governor Chris Christie (R) has taken some lumps for his hard-nosed approach to spending cuts in an effort to salvage the state’s budget. In his brief stint, Gov. Christie has stood up to teacher’s unions, wealthy municipalities, and transit – without too much fuss to date. Property tax rebates are disappearing and other…
With budget deadlines looming, many states felt that there were no alternatives to balancing the budget other than raising taxes or adding new ones. More than half of all states were considering significant tax changes to fill gaping holes… What a difference a few weeks and some angry taxpayers make. New Jersey recently “found” more…
When New Jersey Governor Corzine and the legislature were scrambling to find ways to fill the holes in their budget, it was clear that they wanted to utilize “sin” or “vice” taxes as much as possible. Unlike income taxes that affect everyone, sin taxes only affect people who engage in certain behaviors. The behaviors considered…
New Jersey wants your money. And they’re willing to waive a few penalties and interest to get it. The Division of Taxation a new tax amnesty program. The program will run from May 4, 2009 to June 15, 2009 and will apply only to returns due on or after January 1, 2002 and before February…
With revenues plummeting and federal aid in short supply, many states are scrambling to fill holes in their budgets. The easiest way to do it? Raise taxes. At least ten states are considering major increases in the near future. They are: Arizona Connecticut Delaware Illinois Massachusetts Minnesota New Jersey Oregon Washington Wisconsin Two states have…
Don’t get excited… we’re not talking about football (Favre or not, I can’t get behind the Jets**. Go Eagles!). We’re talking about tax. According to the Tax Foundation, New Jersey residents paid the highest percentage of state and local taxes. Folks from New Jersey paid a whopping 11.8% of income in state and local taxes,…