By Kevin McArdle/NJ 101.5
February 23, 2012
Governor Chris Christie’s plan to cut income taxes by 10% across-the-board over three years is meeting with mixed reviews to say the least.
It would require legislative approval and Democrats who control both houses hate the proposal. The New Jersey Business and Industry Association (NJBIA) predicts it would be a job creator especially when it comes to smaller companies.
NJBIA vice president David Brogan says, “We think it’s a very positive thing. If you’re an LLC, LLP, sole proprietorship, you’re not filing under the corporate business tax. You’re filing under your gross income tax so this is a direct benefit to those businesses, those smaller businesses.”