N.J. budget experts expect bigger tax windfall • New Jersey Monitor

Apr 5, 2022 · The legislative budget analysts expect the corporate business tax to bring in $965 million more than Treasury officials project over the two fiscal years, while the pass-through …

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N.J. Budget Experts Expect Bigger Tax Windfall • New Jersey Monitor

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Apr 5, 2022 · The legislative budget analysts expect the corporate business tax to bring in $965 million more than Treasury officials project over the two fiscal years, while the pass-through …

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What Will N.J. Do With All Those Extra Billions Pouring In ... - Nj.com

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May 16, 2022 · Analysts from OLS now expect New Jersey to rake in nearly $51 billion by the end of June, about $8 billion higher than revenues certified by Murphy at the beginning of the fiscal …

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Tax Relief, Bigger Rebates And More. What Leaders Want To Do

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May 22, 2022 · Under the main bill in their initiative, taxpayers with gross income of $500,000 or less would receive a $1,000 credit if married filing jointly, and individuals would receive a $500 …

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Public Shut Out Of Decisions On NJ’s $11B Windfall? | NJ Spotlight …

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Jun 14, 2021 · Federal COVID-19 aid and state tax receipts bring $11B bonanza to NJ. Will the public be shut out of decisions on how the money is spent? ... There also have been no …

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Murphy Says He’s Open To Boosting Property Tax Relief With Big …

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Jun 14, 2021 · New Jersey’s Department of Treasury last week announced tax collections this fiscal year are running $4.1 billion ahead of projections made in February, which already were …

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Facing Budget Gap, Gov. Murphy Seeks Reduced Spending And A …

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Nov 25, 2024 · The nascent Stay NJ property tax relief program requires New Jersey to maintain a surplus equal to at least 12% of spending to avoid a pause, though lawmakers overrode that …

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N.J. Tax Breaks Coming Thanks To Huge Surplus, Murphy And Top …

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Jun 21, 2021 · Under the income tax rebate, which was first announced last fall, married couples in New Jersey with income below $150,000 and at least one dependent child, and single …

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Liz Muoio Archives • New Jersey Monitor

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State ‘well prepared’ to handle $2B dip in tax revenue, treasurer says BY: Nikita Biryukov - May 17, 2023 . Declines in capital gains collections will slash some state revenue, but New …

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As Murphy Budget Soars To Record High, N.J. Should Be Ready

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Jun 18, 2022 · But Murphy’s budget proposal for the new fiscal year that begins July 1, including the recent expansion of a property tax relief program, clocks in at a staggering $50 billion, …

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FAQs about N.J. budget experts expect bigger tax windfall • New Jersey Monitor Coupon?

Will New Jersey receive a $5 billion tax windfall?

New Jersey has recently received a $5 billion tax windfall. However, Democrats are proposing no significant new tax relief for New Jerseyans, while Republicans plan to significantly boost tax relief and fix long-standing structural budget issues. ...

Is New Jersey facing a fiscal cliff?

State spending has soared to record highs, even as budget experts warn that New Jersey is approaching a fiscal cliff, and tax revenues are expected to fall billions of dollars short of what the state will need to maintain government services over the next five years. ...

How much money will New Jersey spend next year?

The emails, sent last week and in early October, come amid an annual budget that calls for New Jersey to spend $2.1 billion more than it takes in through taxes and other revenue sources. Built-in cost increases and expiring one-shot revenue sources are set to expand the structural to more than $3.8 billion next year. ...

What is New Jersey's biggest spending plan?

Patti Sapone | NJ Advance Media With an economic slowdown looming, state lawmakers on Wednesday passed the largest spending plan in New Jersey history, a $50.6 billion state budget that includes billions in property tax relief, the state’s largest-ever surplus, and a second consecutive full payment to the public worker pension fund. ...

How much money will New Jersey collect?

New Jersey’s Office of Legislative Services will tell the state Senate Budget Committee it now expects the state to collect nearly $4 billion more than it estimated just last month for the current and upcoming fiscal years, according to an email obtained by NJ Advance Media. ...

Should New Jersey use excess tax revenues to protect the state?

Sarlo recently said the state should use a significant portion of the billions in excess tax revenues to boost New Jersey’s surplus to a record $6 billion or more to protect the state from a recession next year. ...