Requires Director of Division of Taxation to conduct study on impact of State business income taxation on business out-migration, formation, and employment for previous and upcoming tax years.

This bill (A 820) requires New Jersey’s Director of the Division of Taxation to study how state business income taxes affect businesses leaving the state, starting new businesses, and hiring workers. The study will analyze tax return data from eight years before and after the bill’s effective date (covering 2026-2034). It mandates two reports: a retrospective analysis of pre-effective-date data by January 2028, and annual reports for eight years afterward, all submitted to the Governor and Legislature by January 15 each year. The goal is to assess whether tax policies should be adjusted to improve New Jersey’s business climate and reduce tax burdens on businesses operating in the state.