AccountingNew Jersey

New Jersey CPAs weigh in on legislative priorities

These are the legislative priorities of the members of the New Jersey Society of Certifies Public Accountants most recent member survey:

  1. Reducing property taxes
  2. Improving the state’s infrastructure — roads, bridges, tunnels and public transportation
  3. Converting public pensions to 401(k)s
  4. Auditing state agencies and programs for overspending, waste and revenue allocation
  5. Combining municipalities and/or school districts and/or increasing the use of shared services
  6. Reducing NJ personal income tax rates
  7. Modifying the school funding formula
  8. Increasing tax exemptions and incentives for retirees to keep them in New Jersey
  9. Eliminating the inheritance tax or increasing the exemption amount
  10. Evaluating corporate tax levels to create a level playing field compared to other states
  11. Creating more tax incentives for businesses
  12. Legalizing and taxing recreational marijuana
  13. Implementing tort reform to limit frivolous lawsuits
  14. Ensuring that if a minimum wage is enacted it is phased in slowly

These priorities were presented to incoming governor Murphy in an open letter in early 2018.

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