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New Jersey has the worst rated business tax climate in nation

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New Jersey has the worst rated business tax climate in nation


A brand new report that ranks enterprise tax climates throughout the nation places New Jersey on the backside of the checklist for having the worst enterprise tax local weather of any state in America.

Janelle Fritts, a coverage tax analyst for the Tax Basis and co-author of the 2023 State Enterprise Tax Local weather Index, mentioned the entire states that do poorly within the rating “are states which have very complicated tax codes and states which have very excessive charges, and New Jersey, after all, has each of these in virtually each tax class.”

She mentioned New Jersey is ranked worst as a result of “it has the very best company revenue tax within the nation at 11.5%. Its particular person revenue tax can be very uncompetitive: you’ve acquired a ten.75% prime price on that one.

Fritts mentioned New Jersey’s property taxes are sky-high.

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“Once we take an efficient property tax price, in order that’s once we take a look at property tax assortment as a proportion of owner-occupied housing values, New Jersey lands at 2.21%, which is the very best within the nation.”

What must be completed

“The large issues that Jersey actually must do are bringing down these charges even marginally, and in addition to consolidate a number of the brackets. New Jersey has very sophisticated, each private and company revenue tax brackets,” she mentioned.

She identified taxes aren’t the one factor folks take a look at when fascinated by beginning a enterprise or relocating, “however when the taxes are so excessive it may be an enormous a part of the image, and we’re seeing enterprise location selections and the place folks transfer, taxes do have an effect on that.”

Fritts mentioned a noticeable pattern entails folks shifting out of high-tax states to areas the place taxes are decrease.

“If New Jersey desires to stay aggressive with the remainder of the nation, as a variety of states are literally bringing down their charges, New Jersey would want to convey down some charges to maintain up with the competitors,” she mentioned.

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Aged upset scared enterprise man holding piggy financial institution making an attempt to guard his financial savings from being stolen

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A sliver lining

She identified the one advantage of being rated worst is that there are many issues Jersey can do to enhance its standing.

“One is doing full expensing for capital investments,” she mentioned. “Meaning letting enterprise house owners who purchase something within the capital funding space to expense that completely within the first yr.”

Relating to the Enterprise Tax Local weather Index, she mentioned “states that do nicely have clearly decrease charges, broad bases and quite simple methods. All throughout the board, New Jersey has very excessive charges in comparison with its neighbors and the nation as an entire.”

The states with the best-rated enterprise tax climates within the Index are Wyoming, South Dakota.

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Jersey is ranked worst, adopted by New York and California.

David Matthau is a reporter for New Jersey 101.5. You’ll be able to attain him at david.matthau@townsquaremedia.com

Click on right here to contact an editor about suggestions or a correction for this story.

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New Jersey’s oldest home is situated on Gloucester County and dates again to the 1600’s

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Stacker ranked the most costly local weather disasters by the billions since 1980 by the entire value of all damages, adjusted for inflation, based mostly on 2021 information from the Nationwide Oceanic and Atmospheric Administration (NOAA). The checklist begins with Hurricane Sally, which brought on $7.3 billion in damages in 2020, and ends with a devastating 2005 hurricane that brought on $170 billion in harm and killed not less than 1,833 folks. Maintain studying to find the 50 of the most costly local weather disasters in current a long time within the U.S.

Say you’re from Jersey with out saying you’re from Jersey

These are on a regular basis expressions that solely somebody from New Jersey would get. What else ought to be on this checklist?

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New Jersey

How people from New York, New Jersey are helping California fire victims

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How people from New York, New Jersey are helping California fire victims


How people from New York, New Jersey are helping California fire victims – CBS New York

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The devastation from the California wildfires is heartbreaking to see, and many people are looking for ways to help the victims. CBS News New York’s Ali Bauman spoke to volunteers from organizations in the Tri-State Area who are reaching out a hand to the West Coast.

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New Jersey school bus aide awaits verdict in student death trial

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New Jersey school bus aide awaits verdict in student death trial


SOMERVILLE, N.J. — The fate of a former school bus aide charged in the death of a special needs student is now in the hands of a New Jersey jury. 

Amanda Davila took the stand Thursday in her trial for aggravated manslaughter after a safety harness strangled 6-year-old Fajr Williams on a bus she was monitoring. 

Davila, 27, told jurors she’s remorseful and suffering from PTSD linked to the fateful bus ride to Claremont Elementary School in Somerset in July 2023.

“I feel bad for what happened, and I am so sorry that it did happen, and I made a mistake,” Davila testified. 

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Davila testified she wasn’t solely responsible for the seatbelt harness around Williams, who used a wheelchair, and that no one ever told her to adjust it. 

Jurors watch surveillance video of special needs student’s death

Jurors watched video from the bus showing Williams sliding down in her wheelchair and her harness getting wrapped around her neck. As Williams was struggling, prosecutors said Davila was wearing earbuds and checking social media on her cellphone. 

“I was scrolling through apps to go onto Instagram and texting,” Davila testified. 

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Amanda Davila pleaded not guilty to aggravated manslaughter in the 2023 death of 6-year-old Fajr Williams. 

Somerset County Prosecutor’s Office

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In her defense, Davila claimed her employer allowed her to sit in the middle of the bus and did not properly train her. Her attorney blamed the deceased student’s older sister who put the harness on. 

“She died because her own mother didn’t properly, or delegated, fastening her into the wheelchair,” attorney Michael A. Policastro said, “and that is not responsibility of Amanda.” 

“It is heartbreaking and it’s disturbing”

During closing statements, the prosecution also showed video of police interrogating Davila. At the same time, Williams’ mother was slumped over, crying. Prosecutors called Davila a liar, claiming she broke policy by using her phone, and said she failed to watch Williams and secure a bus latch to prevent the wheelchair from moving, despite receiving training over seven years.  

“It is heartbreaking and it’s disturbing to keep reliving it and to have to physically watch my daughter suffer due to negligence,” said Najmah Nash, Williams’ mother. 

“The cellphone is more important than the child,” Somerset County First Assistant Prosecutor Michael McLaughlin told the jury. 

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Jurors will resume deliberations on Monday. The charges against Davila carry a 10-year prison sentence.



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Funeral to be held for 25-year-old NJ man killed in New Orleans attack

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Funeral to be held for 25-year-old NJ man killed in New Orleans attack


HOLMDEL, New Jersey (WPVI) — Family, friends, and those who knew 25-year-old Billy DiMaio will pay tribute to him during a funeral service in Holmdel, New Jersey, on Thursday.

The standout athlete, son, and brother was one of the 14 victims killed in the New Year’s Day terrorist act in New Orleans.

He was with friends on Bourbon Street when a man inspired by ISIS drove his truck into a crowd of people.

Victim killed in New Orleans attack ID’d as Philadelphia college grad

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DiMaio’s funeral will be held at St. Catherine’s Church in his hometown of Holmdel at 10:30 a.m. Interment will follow at Holmdel Cemetery following the service.

Billy’s parents Bill and Tracie DiMaio are heartbroken.

“Billy had a smile that could light up a room, and his laughter was truly infectious,” the family said in a statement. “His energetic personality inspired everyone around him. He cared for others more than himself and, as the oldest brother to Samantha and Anthony held a unique and irreplaceable role in their lives as well as cousins and friends. He will be dearly missed.”

DiMaio graduated in 2022 from Philadelphia’s Chestnut Hill College where he was a midfielder on the lacrosse team, according to the athletic director.

RELATED | What we know about victims of New Orleans truck attack: ‘So beautiful and full of life’

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14 people were killed when a man rammed his truck into a crowd on Bourbon Street on New Year’s Day.

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