NJ Prop Tax Deduction… in Jeopardy

Corzine said the deep recession requires difficult choices, including eliminating property tax rebates for households with incomes over $75,000 and more than a half-dozen increases in taxes. He said the budget’s $7 billion structural deficit is cured mostly through $4 billion in spending cuts and $2.2 billion in federal stimulus aid….The tax changes include raising the tax rate on incomes over $500,000, taxing lottery winnings over $10,000, extending a 4 percent surcharge on corporate taxes, increasing cigarette taxes 12.5 cents a pack and boosting taxes on liquor and wine by 25 percent.
By MICHAEL SYMONS • GANNETT STATE BUREAU • March 11, 2009

Visit Article: http://www.app.com/article/20090311/NEWS0301/903110314/1007/NEWS03

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: