Once again the Tax Foundation has ranked NJ dead last among the 50 states for business climate. Contributing to NJ's awful business climate were our high property taxes (50th), high income taxes (48th), high sales taxes (48th), high corporate taxes (41st) and our high levels of regulation.
Tax Freedom Day Arrives on May 9th in New Jersey
Tax Freedom Day is the day when Americans finally have earned enough money to pay off their total tax bill for the year. In 2014, New Jersey taxpayers worked until May 9th (latest nationally) to pay their total tax bill. The Tax Freedom Days of neighboring states are: New York, May 4th (ranked 3rd latest nationally); Pennsylvania, April 21st (ranked 15th latest nationally); and Delaware, April 18th (ranked 19th latest nationally).
Our poor business climate impacts all residents. It lowers our standard of living and increases our unemployment rate. No reform is on the horizon. Why not call your state representatives and ask them why?
Read the full report on their website.