Tensions and passions were high at the California Supreme Court before they even turned to the Gillette Co. v. Franchise Tax Board case deciding whether the Multistate Tax Compact is a binding agreement or a model law...
- Wall Street Journal Editorial Highlights State Business T...
Wall Street Journal Editorial Highlights State Business Tax Climate Index Information on New Jersey
By Wall Street Journal Editorial Board
Tony Soprano may be off HBO, but his imitators are apparently still alive and well and living in New Jersey. On Thursday, federal agents arrested 44 people, including at least 19 current or former New Jersey public officials, on corruption and money-laundering charges. ...
We'd add that the opportunities for corruption multiply in proportion to the power and size of government. According to the Tax Foundation, New Jersey had the worst business tax climate among the 50 states in 2008 and 2009, the highest state and local tax burden in the country, and a top marginal income tax rate of nearly 11%. The state has 566 local government authorities with the power to impose a mind-numbing array of taxes, fees, regulations, edicts and ordinances.
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