New Jersey’s tax structure is the worst in the nation according to a recent report. Isn’t this what New Years’ resolutions are for? Let us wish that New Jersey gets it tax structure in gear to enhance our competitiveness so other states don’t keep trying to eat our lunch.
“A new study shows New Jersey’s tax structure is the worst in the U.S., thanks to its nation-leading property taxes, second-highest corporate tax and some of the worst-structured individual income taxes. The Tax Foundation’s 2019 State Business Tax Climate Index, published Wednesday, ranked New Jersey 50th, citing the state’s high taxes and its inequitable and non-neutral tax incentives. Jared Walczak, lead author for the report, said the state has picked winners and losers in its tax structure by offering carve-outs and tax exemptions for the types of businesses the state wants to attract or retain, ultimately dragging down its overall ranking.”
Read: New Jersey’s tax structure worst in nation, report finds at NJBIZ