Business Tax, ECONOMIC OPPORTUNITY FOR ALL
APP.com: What about the business tax climate?
One would have to be a cynic to suspect that Gov. Phil Murphy chose Monday to deliver his much-awaited economic development plan to divert attention from the 4.3-cent gasoline hike, the sales taxes on online purchases, and taxes on BnBs and other online booking sites, all of which also kicked in Monday. Maybe it was just a coincidence.
But we were struck by the absence of any discussion in his strategic plan to jump start New Jersey’s economy about what was being proposed to improve the state’s worst-in-the-nation tax climate.
The plan made only one passing reference to making the state more affordable for businesses, small and large, to operate. In fact, it was only addressed tangentially, and with a sense of resignation: “Let’s be honest,” Murphy said, “New Jersey will never be the cheapest place to do business — our position between two of the nation’s highest-cost markets will see to that — but we will continue to strive to provide the greatest value, dollar for dollar…”
Read the full editorial here.