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(TRENTON) — AON, the actuary that services the various state health benefits plans, today released to the State Health Benefits Commission (SHBC) and the School Employees' Health Benefits Commission (SEHBC) recommended rate increases for the three state-administered plans, recommending double-digit percentage increases for all three.
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(TRENTON) — RetireReady NJ, the State-administered retirement savings program for private-sector employees, celebrated its one year anniversary this month by surpassing $8 million in assets under management.
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(TRENTON) — Yesterday, Governor Phil Murphy signed into law the Fiscal Year 2026 Appropriations Act, marking a culmination of the Murphy Administration’s longstanding commitment to fiscal responsibility, affordability, and opportunity. Over nine budgets spanning nearly eight years in office, Governor Murphy has presided over sustained economic growth while making long overdue investments in addressing the needs of working New Jerseyans, from property tax relief, to school funding, to restoring funding for the State’s pension systems.
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(TRENTON) — Today, the New Jersey Department of the Treasury unveiled “New Jersey on Parade,” a public artwork depicting New Jersey State history, now permanently installed at the Division of Taxation headquarters, 3 John Fitch Way, Trenton.
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(TRENTON) — Over 250 business owners from across New Jersey and neighboring states attended the NJ Pathways Business Forum at Rutgers University – New Brunswick, Livingston Campus, hosted by the New Jersey Department of the Treasury and the New Jersey Business Action Center.
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(TRENTON) — The Department of the Treasury reported today that May revenue collections for the major taxes totaled $2.694 billion, down $472.9 million, or 14.9 percent below last May. This fluctuation is primarily due to a timing issue related to the new Taxation system upgrade, and is expected to stabilize in June. Fiscal year-to-date, total collections of $41.143 billion are up $1.575 billion, or 4.0 percent ahead of the same period last year.
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(TRENTON) — Registration is open for the NJ Pathways Business Forum, a landmark event, which will be held Friday, June 13th at Rutgers University – New Brunswick, hosted by the New Jersey Department of the Treasury and New Jersey Business Action Center.
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(TRENTON) — The Department of the Treasury reported today that April revenue collections for the major taxes totaled $7.386 billion, up $444.9 million, or 6.4 percent ahead of last April.
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(TRENTON) - State Treasurer Elizabeth Maher Muoio and Department of the Treasury officials testified before the Assembly Budget Committee at the State House today, providing a detailed update on revenue projections for the remainder of Fiscal Year 2025 through Fiscal Year 2026.
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(TRENTON) - The Department of the Treasury reported today that March revenue collections for the major taxes totaled $3.951 billion, up $553.0 million, or 16.3 percent above last year. The growth in total revenues was mainly driven by higher payments from the Pass-Through Business Alternative Income Tax (PTBAIT) and the Corporation Business Tax (CBT). Fiscal year-to-date, total major revenues of $31.063 billion are now running $1.603 billion, or 5.4 percent above the same period last year, in line with the year-end target growth.
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(TRENTON) – State Treasurer Elizabeth Maher Muoio and Department of the Treasury officials testified before the Senate Budget and Appropriations Committee at the State House today, providing a detailed update on revenue projections for the remainder of Fiscal Year 2025 through Fiscal Year 2026. The following is a copy of the testimony, as prepared for delivery:
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(TRENTON) - The Department of the Treasury reported today that February revenue collections for the major taxes totaled $3.180 billion, higher by $378.5 million, or 13.5 percent, over last year. The growth in total revenues was largely due to lower refunds under the Gross Income Tax (GIT) and the Corporation Business Tax (CBT). Fiscal year-to-date, total major revenues of $27.112 billion are up $1.050 billion, or 4.0 percent above last year, and approaching the year-end target growth.
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(TRENTON) - State Treasurer Elizabeth Maher Muoio announced that Governor Murphy's Detailed Budget book for Fiscal Year 2026 is now available online through the Department of the Treasury's Office of Management and Budget website.
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(TRENTON) - The Department of the Treasury reported that January revenue collections for the major taxes totaled $5.326 billion, up $232.5 million, or 4.6 percent over last year. The growth in total revenues was led by higher collections from the Gross Income Tax (GIT), the Sales and Use Tax (SUT), and the Pass-Through Business Alternative Income Tax (PTBAIT). Fiscal year-to-date, total major revenue revenues of $23.932 billion are up $671.7 million, or 2.9 percent from the same period last year. Treasury expects revenues to perform better in the second half of Fiscal Year 2025, when most of the new Corporate Transit Fee collections should be received.
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(TRENTON) - State Treasurer Elizabeth Maher Muoio will be joined by senior Treasury and Administration officials for an in-person press briefing on Monday, February 24, 2025 at 2:00 p.m. in advance of Governor Murphy’s Budget Address on Tuesday, February 25, 2025.
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(TRENTON) - New Jersey secured an estimated $22.155 billion in federal revenue in FY2024, which supported 609 State-administered programs, according to a first-of-its-kind report released by the state’s Grants Management Office (GMO).
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(TRENTON) - As the 2024 tax filing season begins, the New Jersey Department of the Treasury is reminding taxpayers to find out if they are eligible for the State’s Earned Income Tax Credit (NJEITC), which can provide significant tax relief or increase tax refunds for low- and moderate-income workers.
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(TRENTON) - For the first time in New Jersey’s history, seniors aged 65 or older and disabled homeowners or mobile homeowners will be able to apply for three State property tax relief programs – Senior Freeze, ANCHOR, and the forthcoming StayNJ – by filling out a single application. The new application fulfills a requirement of the “Stay NJ Act”, P.L. 2023, c.75, mandating a single combined application for the three programs.
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(TRENTON) - The Department of the Treasury reported today that December revenue collections for the major taxes totaled $4.732 billion, higher by $130.1 million, or 2.8 percent above last December. The revenue increase was primarily led by growth in the Gross Income Tax (GIT). Fiscal year-to-date, total major revenues of $18.605 billion are up $439.2 million, or 2.4 percent above last year. Treasury expects revenues to perform better in the second half of Fiscal Year 2025, as Corporate Transit Fee collections are expected to be received.
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