November 24, 2008
Asbury Park Press (NJ) Story on Loss Deductions Mentions State Business Tax Climate Index
"New State Law Stretches Time Companies Can Deduct Losses"
By Bloomberg News Service
Last month, the nonpartisan Washington-based Tax Foundation ranked New Jersey the worst in the nation for a second year in a row in terms of whether its tax system encourages investment. The state has the third-worst individual income tax, the 10th-worst sales tax and the worst property tax, and its tax code reads like a What Not to Do for legislators, the group said in a report.
