Tax Day Brings More Bad News for New Jersey
Garden State Ranks 48th on Small Business Tax Index
MONMOUTH JUNCTION – AFP state director Daryn Iwicki has issued the following Tax Day statement:
“Tax Day has arrived and there is yet more bad news for New Jersey. The Small Business and Entrepreneurship Council (SBE) has come out with its 5th annual “Small Business Tax Index”, and where does New Jersey finish? 48th—third to last.
“Again, another report showing New Jersey is behind the times and uncompetitive with other states when it comes to business. Income tax, property tax, corporate tax, and even including capital gains taxes on business all played a role in this report and New Jersey is near the bottom on every single one. The only bright side is SBE has us ranked 2nd for the gas tax—but if Speaker Prieto and Sen. Lesniak have their way, New Jersey motorists would be hit with a 15 cent increase over the next 3 years.
“This report should be sobering for our leaders in Trenton. Clearly, the so called ‘Economic Opportunity to Compete Act’ has not been helped New Jersey compete. The reason is the failed, illogical thinking that we can just hand out corporate welfare in our state to create jobs. Welcome to reality; it’s not working.
“It is time to put aside back room deal making with union bosses and start thinking about main street: the real job creators in our state— our small business owners—who have been beaten into submission with heavy-handed taxation and regulations from our state lawmakers and runaway agencies like the DEP. It is time to put forth legislation which will help owners grow jobs and improve New Jersey’s stale economy.”
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