When Is $1 Million not $1 Million?

For a number of years recently, the idea of imposing an additional tax on incomes over $1 million was all the rage across the political landscape. A handful of states – notably California in 2012, followed by Connecticut and New York along with Washington DC were quick to impose the new tax on “millionaires”. More…

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Ballot Questions Abound

Aside from the Presidential, Senatorial and Congressional elections on the ballot on Tuesday, there are also a broad array of ballot questions that may have a significant impact on business interests – now and/or in the future across the country. We want to highlight a few of these for you. We’ve advised you in past…

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California Eyeing Retroactive Tax Hike

As many, if not most states, focus on how they can revive business and get their economies back on track, elected officials in the California legislature are looking at going in a different direction. Senators in the California Senate resurrected and amended AB 1253 two weeks ago recommitting it to the Committee on Government and…

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Paying for the Pandemic in Cities

City governments are constantly lamenting the loss of tax and other revenues and are now mapping plans to restore their revenue streams whether there’s more federal money or not. Too often, that means increased taxes for the business community.  As a case in point, amid widespread opposition, the DC Council preliminarily approved a FY21 budget…

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Tale of Two Approaches

As Congress gets closer to possibly another economic recovery legislation, and the clamor to date has been for as much a $1 trillion in relief to state and local government, we’ve now entered FY 2021 budget. With tax receipts significantly reduced, every state and local government is facing some tough budget decisions. A quick look…

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New Jersey Governor Files Millionaire Tax Again

New Jersey Governor Philip Murphy, who in each of his two prior years in the corner office has proposed an additional surcharge on incomes in excess of $1 Million, has done it again. Murphy submitted a $40.9 billion budget to the New Jersey legislature this week, and included some $494 million in new revenue generated…

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NJ Governor Wants Millionaire Tax Again

In his State of the State Address this week, New Jersey Governor Phil Murphy announced he is doubling down and will renew his push for a Millionaires Tax in the Garden State. Murphy claims a new millionaires tax would ease the property tax burden “on millions of middle-class families and seniors, and do more to…

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Utah Considering New Soda Tax

I would submit one probably wasn’t too surprised by Seattle, Philadelphia and a host of California cities adopting additional taxes on sugary beverages, so-called soda taxes, but Utah?? Well, it seems that the soda tax proposal is part of an array of Tax Reform Proposals being entertained by the Tax Restructuring and Equalization Task Force…

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The Good, the Bad & the Ugly!

Fortunately, we don’t have to report on every legislative initiative that comes down the road, but there is a vast array of fringe legislation regularly considered and sadly enough, often adopted as the law of the land! For a few examples, consider that the New Jersey legislature recently increased the state minimum wage to $10/hour…

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New Jersey Showdown Over Millionaire Tax

Despite the fact that New Jersey is a democratic trifecta state (all three branches of government controlled by democrats), there is an old-fashioned standoff in the Garden State over a Millionaire Tax proposal. Governor Phil Murphy has strongly advocated for adoption of an extra tax on incomes over $1 million, but thus far, legislative leaders…

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