In his 2019 State of the State address, New Jersey Gov. Phil Murphy proposed a reform of the state’s corporate income tax incentives programs.
New Tax Incentive Program Components
The governor called for a new tax incentive program which features:
– monetary caps;
– clear eligibility criteria and oversight; and
The governor further stated that any reformed tax incentive program should include targeted investment in high-wage, high-growth sectors of the New Jersey economy.
State of the State Address, New Jersey Gov. Phil Murphy, January 15, 2019