June 29, 2012 by MDOPKIN

On June 25, 2012, the New Jersey Legislature passed the 2013 fiscal year budget. The $31.7 billion state budget includes many of the provisions originally proposed by Gov. Chris Christie but it excludes a 10% cut in the personal income tax rates that were to be phased in over three years. As an alternative, the bill places $183 million in tax cuts on hold until January 2013, which would be used for property tax relief pending revenue growth in the state.

Click the link below to see a copy of S.B. 2013 as passed by the New Jersey Legislature on June 25, 2012:

New Jersey Fiscal Year 2012 Budget

Dopkin Law Firm advises clients on the intricacies of business and tax law matters. To discuss these or other issues with attorney and CPA Matt Dopkin, contact us at 215-519-4269 or via email at mdopkin@dopkinlawfirm.com.

© 2012 Dopkin Law Firm

This Alert is published by Dopkin Law Firm. It is provided solely as legal information, not legal advice. Legal advice depends, to a large extent, upon the particular facts of a matter. For legal advice, contact your legal advisor.