Governor of New Jersey Phil Murphy. Kevin Mazur/Getty Images for iStar New Jersey has assigned the unfortunate nickname of “millionaires’ tax” to a bill that promotes the concept that people who make more money should pay more taxes. While it hardly seems unfair or unreasonable, the conservative right has labeled the bill “progressive” or “socialist,” and Fox News-watching America believes it.While it is sad that a “tax fairness act” or a “tax equity bill” might have been harder for the right to turn its base against it, the damage to the “millionaires’ tax” has been done. A good idea that New Jersey’s two-house majority legislature should have passed within the first hundred days of Governor Phil Murphy’s administration must now wait.SEE ALSO: Inside the Launch of Cory Booker’s ‘Justice For All’ Campaign TourThis bill is only one part of Murphy’s vision for a fairer … [Read more...] about New Jersey Millionaires’ Tax Must Wait for Another Day
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The New Jersey state house. File photo On Wednesday, Gov. Phil Murphy refused to rule out a tax increase as he makes to implement his progressive agenda.Even though the state is among the top in the nation for overall tax burden and outward migration, Murphy says New Jersey hasn’t done enough to achieve his goal of “tax fairness,” according to a report in Politico.Murphy, who was stymied by blowback from his own party for his plan earlier this year to raise taxes by $1.7 billion, said Wednesday he would leave “everything…on the table,” when it came to raising taxes in coming budget plans, according to Politico.Murphy said he was working to ensure tax fairness for the state’s middle class as well as “the working poor and those in poverty who dream to get into the working class.”But members of Murphy’s own party have said that when speaking of the state’s middle class, Murphy often seems to be referring to those in public … [Read more...] about NJ Politics Digest: More Taxes For New Jersey? Murphy Won’t Rule It Out
Same-sex marriages will begin within days in New Jersey after the state’s highest court ruled unanimously to uphold a lower-court order that gay weddings must start Oct. 21 and to deny a delay that was sought by Gov. Chris Christie’s administration. “The state has advanced a number of arguments, but none of them overcome this reality: Same-sex couples who cannot marry are not treated equally under the law today,” the court said in an opinion by Chief Justice Stuart Rabner. “The harm to them is real, not abstract or speculative.” A judge on the lower court had ruled last month that New Jersey must recognize same-sex marriage and set Monday as the date to allow gay weddings. Christie, a Republican who is considered a possible 2016 presidential candidate, appealed the decision and asked for the start date to be put on hold while the state appeals. The state’s top court agreed last week to take up the appeal of the lower-court ruling by Judge Mary … [Read more...] about Marriage equality is coming to New Jersey!
Frank Lauletta, Partner at the Law Firm Lauletta Birnbaum Office of Lauletta Birnbaum, Frank Lauletta, Partner Visitors, Lauletta Attorneys at Incutate (Frank Lauletta, 2nd from right) Frank Lauletta, Attorney Profile at solomonlawguild.com Website of Lauletta Birnbaum, Frank Lauletta, Partner Business lawyer Frank Lauletta comments that The Tax Cut & Jobs Act may incentivize New Jersey real estate investors. Lauletta Birnbaum LLC (N/A:N/A)... those investors already active in these opportunity zones may be incentivized to expand their investment activity ...”— Frank Lauletta, Lawyer at Lauletta BirnbaumSEWELL, NEW JERSEY, UNITED STATES, August 27, 2018 /EINPresswire.com/ -- On December 22, 2017, President Donald Trump signed into law a major tax overhaul, referred to as the Tax Cuts and Jobs Act (TCJA). It makes substantial changes to the rates and bases of both the individual and corporate income taxes. In particular, it cuts the maximum corporate income tax rate to … [Read more...] about New Jersey lawyer Frank Lauletta explains opportunities for investors in New Jersey based the Tax Cuts & Jobs Act
Marcy Gordon and Geoff Mulvihill Associated Press Published 11:49 p.m. UTC Aug 23, 2018 The Trump administration laid down rules Thursday aimed at preventing residents in high-tax states like New Jersey from avoiding a new cap on widely popular state and local tax deductions. State officials, all Democrats, spoke out against the move, with some referring to it as "despicable" or a "travesty." "These proposed IRS regulations not only defy decades of legal precedent, they are clearly designed to punish states like New Jersey that stood up and fought back to protect our residents from being double-taxed," Sen. Bob Menendez stated. "They will slam New Jersey homeowners with higher property taxes and endanger the investments in public safety, education, infrastructure and economic opportunity that make our state an economic powerhouse for the nation and an attractive place to live, work, and raise a family." The action over the new Republican tax law pits … [Read more...] about New Jersey elected officials blast Treasury rules that could raise tax bills