Governor Phil Murphy

Governor Murphy Takes Action on Legislation


TRENTON – Today, Governor Murphy signed the following bills into law:

A-10/S-2949 (Coughlin, Giblin/Addiego, Greenstein) – Increases gross income tax rate from 8.97 percent to 10.75 percent on income between $1,000,000 and $5,000,000, and provides up to $500 tax rebate to eligible taxpayers

A-4721/S-2934 (Sumter/Sweeney) – Imposes CBT surtax at rate of 2.5 percent until December 31, 2023

A-4722/S-2935 (McKeon/Pou) – Increases annual assessment on net written premiums of HMOs to support charity care from three percent to five percent in FY 2021

S-2178/A-3292 (Vitale, Rice/Vainieri Huttle, Reynolds-Jackson, Jasey) – Repeals family cap in Work First New Jersey program