Tomorrow at 10:00 AM, the full U.S. House Judiciary Committee will convene a panel to discuss solutions on the Internet sales tax issue. The growth of Internet commerce has collided with constitutional restriction...
- Wall Street Journal Editorial Highlights State Business Tax Climate...
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.
- Despite some positive elements, Governor Beshear’s tax proposal as a whole includes several problematic components and neglects basic reforms to modernize the state’s tax code.
- The plan includes a significant...
Illinois significantly raised taxes in 2011 in an attempt to address its $8.5 billion backlog of unpaid bills and other financial difficulties. The state raised its flat individual income tax from 3 percent to 5 percent and increased the...
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