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It's not just people moving out. It's companies / people being disincentivized from moving in.
Yes! And they have the tools to do so. NJ Treasury Dept can pull data the from the Dept of Corporation (maybe a different name in NJ) and find out how many "Inactive" entities with Domestic and Foreign Qualification have been closed during "x" period of time. Florida and Texas do this a lot. It gives them visibility to important data and causes of closure, and then adjust policies accordingly.
Yes! And they have the tools to do so. NJ Treasury Dept can pull data the from the Dept of Corporation (maybe a different name in NJ) and find out how many "Inactive" entities with Domestic and Foreign Qualification have been closed during "x" period of time. Florida and Texas do this a lot. It gives them visibility to important data and causes of closure, and then adjust policies accordingly.
BS. we have all gone over this before as many people leave as come into NJ if not more. Trying to scare people off is a trump tactic. Murphey told everyone what he was going to do and he got elected. No surprise's.
BS. we have all gone over this before as many people leave as come into NJ if not more. Trying to scare people off is a trump tactic. Murphey told everyone what he was going to do and he got elected. No surprise's.
Trump tactic?? I know you hate him and probably need Trumpenol, I'll show you the box if requested.
Facts does not equal wanting to scare and yes Murphy likes raising taxes - he ran on it and the sucker voters IMO voted for him.
It's up to "the person" if they want to be scared.
It's not just people moving out. It's companies / people being disincentivized from moving in.
I wonder if it will get worse now that a lot of people will WFH indefinitely. If there is no need for workers to come in, why headquarter a company in NY or NJ instead of TX or TN?
I wonder if it will get worse now that a lot of people will WFH indefinitely. If there is no need for workers to come in, why headquarter a company in NY or NJ instead of TX or TN?
It depends if WFH will be a permanent new normal going forward.
It depends if WFH will be a permanent new normal going forward.
At the moment, lots of Tech and other Startups have moved officially to a WFH policy. Even if the company works from an Shared Office Space format, they will be saving on rent, Commercial Rent Tax (if the annualized rent expense is over $250K per year), Crime-General Liability (Xcess Umbrella) and other applicable premiums depending on the industry, free allowances like train rides (part of their T&E line item). This is a no brainer for most of them. If you want to make a young company cash flow positive.....this is going to help a lot. And depending on the company's headcount, they may reduce their SG&A on the payroll taxes portion of the employer.....but this one depends greatly on which states the employees move to.
At the moment, lots of Tech and other Startups have moved officially to a WFH policy. Even if the company works from an Shared Office Space format, they will be saving on rent, Commercial Rent Tax (if the annualized rent expense is over $250K per year), Crime-General Liability (Xcess Umbrella) and other applicable premiums depending on the industry, free allowances like train rides (part of their T&E line item). This is a no brainer for most of them. If you want to make a young company cash flow positive.....this is going to help a lot. And depending on the company's headcount, they may reduce their SG&A on the payroll taxes portion of the employer.....but this one depends greatly on which states the employees move to.
And those dem cities (by playing politics), cut their nose spite their face to the loss of future tax revenues IMO.
To what extent is to be determined.
I can see this potentially catching on.
Lets see how much vacant office space stays that way for "eeons".
Less salary = less tax receipts, also other businesses dependent on foot traffic will most likely suffer too IMO.
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I know you hate him and probably need Trumpenol, I'll show you the box if requested. 
