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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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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Millionaire Tax Clears First Hurdle in Massachusetts

The Massachusetts state legislature, not a group that is shy about new taxes and meeting in Constitutional Convention on Wednesday, gave initial approval to a proposed constitutional amendment that would impose an additional 4% tax surcharge on all Massachusetts residents with annual income in excess of $1 million. The 147-48 vote advances the question to…

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Push for Millionaire’s Tax Spreads

The class envy is getting deeper and against the backdrop of Senator Elizabeth Warren’s push for a federal wealth tax on assets, state efforts to adopt excise taxes and surcharges on income levels are becoming more pronounced. For 2019 legislative sessions, no fewer than a half dozen states are now seriously entertaining millionaire taxes. New…

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NJ Governor Wants Millionaire Tax

New Jersey Governor Phil Murphy continues to push for so many of the progressive programs and initiatives that were blocked in prior years by his republican predecessor, Chris Christie. This latest initiative, incorporated in the Governor’s $38.6 billion state budget for FY20, seeks to expand the universe of the multi-millionaire tax (incomes over $5 million)…

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Targeting Success

Newly announced presidential candidate Senator Elizabeth Warren (D-MA) has gotten much of the coverage on raising taxing of late with her plan to levy a 2% tax on assets over $50 million, but failed 2016 (and likely 2020) democratic Presidential candidate Senator Bernie Sanders (I-VT) is determined to penalize success as well. Staying in class…

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It’s Baaaaaaack!

For those who thought the idea of the so-called Millionaire Tax had run its course, think again. You will recall that Massachusetts advocates had teed up a ballot question for last November’s ballot that would have allowed the Bay State to apply a 4% surcharge to incomes over $1 million. The Massachusetts Supreme Court ultimately…

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Ballot Initiative Battles

Efforts to implement more progressive policies as relates employment laws issues has shifted over the past several years to the ballot initiative process – and with a fair amount of success unfortunately. That trend appears to be continuing in a couple of recent examples. Recent polls indicate that a ballot initiative in Massachusetts that would…

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