Casagrande Pitches Picking Up New Residents’ Moving Expenses

Asw. Caroline Casagrande (R-11)

Are you a taxpayer moving whose company is moving you into New Jersey for work reasons?

If the answer is “yes,” then you have a friend in Assemblywoman Caroline Casagrande (R-Monmouth); she wants to enact a gross income tax deduction for your moving expenses!

Makes a good deal of sense, right?

Specifically, Casagrande’s legislation (introduced on Thursday and designated A2934) would permit new Garden State residents to claims a gross income tax deduction for expenses incurred in moving to NJ such as those related to the transport or shipping of household goods, personal effects, and the storage thereof. Other caveats include a full time employment requirement for the initial 12-month period immediately following your move (at least 39 weeks). If you’re self-employed, you must work full time for at least 78 weeks of the two year period following your arrival in order to qualify.

“More businesses are beginning to make New Jersey their home as a result of our continuing efforts to reform government and reduce bureaucratic red tape,” said Casagrande. “When companies relocate to New Jersey, they often offer transfers to many of their employees. Offering a tax deduction for moving expenses is an added incentive for workers to follow the job.”

At a time when Democrats are stuck on tax hikes and social distractions (and driving taxpayers OUT of New Jersey as a result), Save Jerseyans, it’s encouraging to see some New Jersey Republicans remembering the reasons WHY we elected them in the first place!

 

Matt Rooney
About Matt Rooney 8621 Articles
MATT ROONEY is SaveJersey.com's founder and editor-in-chief, a practicing New Jersey attorney, and the host of 'The Matt Rooney Show' on 1210 WPHT every Sunday evening from 7-10PM EST.

2 Comments

  1. I have to dissent on this one. Deductions like this only serve to make the state tax code more complicated, allowing the Legislature to pick winners by taxing some activities and not others. Why don't we get rid of all such tax deductions and lower rates accordingly? That system would be much more efficient, and simple low rates would do more to attract businesses than some little up front moving cost deduction credit.

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