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Bill > S957
NJ S957
NJ S957Requires Director of Division of Taxation to study impact of State business income taxes on business out-migration, business formation, and employment.
summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
This bill directs the Director of the Division of Taxation in the Department of the Treasury ("director") to engage in a continuous study of the impact of New Jersey business income taxes on business out-migration, business formation, and employment and create a Tax Policy Impact Report for annual submittal to the Governor and Legislature. In conducting the study, the director would examine data available from corporation, partnership, and other appropriate New Jersey income tax returns. The Tax Policy Impact Report would consist of the study's findings and recommendations, including whether any State or local tax laws or policies may be modified to improve the State's business climate and decrease the financial impact of taxes on businesses residing in New Jersey.
AI Summary
This bill requires the Director of the Division of Taxation, who is the head of the state's tax agency, to continuously study how New Jersey's taxes on business income affect businesses leaving the state (business out-migration), new businesses starting (business formation), and the number of jobs available (employment). To do this, the director will look at information from tax returns filed by corporations, partnerships, and other businesses. The director must then create an annual "Tax Policy Impact Report" that includes their findings and suggestions on how to make New Jersey a better place for businesses and reduce the financial burden of taxes on them, and this report will be given to the Governor and the Legislature every year by January 1st.
Committee Categories
Business and Industry
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Commerce Committee (on 01/13/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2026/S957 |
| BillText | https://pub.njleg.gov/Bills/2026/S1000/957_I1.HTM |
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