New Jersey Governor Proposes Corporate Incentive Overhaul

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

– flexibility.

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

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