News Formal

Gov. Murphy, legislative leaders agree on 2.5% tax on corporations to fund NJ Transit

  • 📰 ABC7NY
  • ⏱ Reading Time:
  • 12 sec. here
  • 12 min. at publisher
  • 📊 Quality Score:
  • News: 43%
  • Publisher: 51%

Nj Transit News

Tax Deal,New Jersey,Amtrak

Under the plan, the 600 corporations in the state that make at least $10 million a year in profits will pay a 2.5% tax on all earnings for five years.

Friday, June 21, 2024 10:44PMNew Jersey has a tentative agreement with the state's most profitable companies to temporarily pay higher taxes to fund NJ Transit.

Both the "transit tax" and a final state budget still need to be approved by the Legislature next week. The budget expires June 30., which saw a string of service disruptions adversely impact rail commuters.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 592. in BUSİNESS

Business Business Latest News, Business Business Headlines