New Jersey Officials, Big Business Queue Up Deal to Ease Taxes

New Jersey lawmakers are close to rolling out a compromise legislative plan that would provide tax cuts for major New Jersey corporations, including relaxing the state’s treatment on the way it taxes earned income abroad, according to two business industry lobbyists who have been involved in the negotiations.

State lawmakers have been actively working on a proposal of corporate business tax changes after Gov. Phil Murphy (D) greenlit a plan that would ease the burden on some of the biggest corporations operating in the state such as Johnson & Johnson, Pfizer Inc., and Anheuser-Busch. ...