, designed provide the first dedicated funding to help NJ Transit, is not the business killer opponents say it is, according to a report authored by a progressive think tank.
The report failed to convince leaders of New Jersey’s top two business associations who continue to oppose a tax they said will make the state less competitive to attract and retain major employers. The report uses state Treasury Department data and concludes only 600 of 116,000 corporate taxpayers in the state or 0.5% with $10 million or more in profits would pay.
Officials of two large New Jersey business associations disagreed with the findings and said the report has not changed their view.
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