On February 4, 2019, Governor Phil Murphy signed legislation to increase New Jersey’s hourly minimum wage rate from $8 to $15 (“A-15”). A discussion of key provisions of A-15 can be found here.
In addition to increasing the minimum wage, A-15 allows employers (“Employer”) who employ persons with impairments to receive up to $10 million in tax credits (“Tax Credits”) to offset the cost to an Employer of any increases in wages and payroll taxes for an impaired employee as a result of A-15.
In accordance with an agreement reached between the Governor and legislative leaders earlier this month, the New Jersey Legislature approved legislation, A-15 (the “Bill”), on January 31, 2019 to increase the state hourly minimum wage requirement from $8.85 to $15 over a five (5) year period. The Governor is expected to sign the Bill into law on Monday, February 4, 2019.
In accordance with the Supreme Court’s ruling, the Pennsylvania Department of Revenue (“DOR”) recently issued a new rule stating that a substantial economic nexus satisfies the Pennsylvania Tax Reform Code’s definition of “maintaining a place of business in Pennsylvania,” thereby requiring out-of-state sellers to collect and remit Pennsylvania’s sales tax (the “Nexus Rules”).
On January 17, 2019, Governor Phil Murphy and Legislative Leaders announced the collective decision to raise the minimum wage rate in New Jersey from $8.85 per hour to $15 per hour for most businesses over a five (5) year period. On January 24, 2019, the New Jersey Assembly's Labor Committee approved legislation (Assembly Bill A-15) that would implement the minimum wage increase. If approved by other Legislative Committees, passed by both the full Assembly and Senate, and signed into law by the Governor in its present form, key provisions of Bill A-15 include the following
The governor’s office and the New Jersey Economic Development Authority (EDA) recently announced the initial group of collaborative workspaces that have been approved to participate in the NJ Ignite program.
In this installment of the Corporate Department Blog, Adam Chelminiak and Mariel Giletto discuss the two different types of purchase price adjustments and strategies to minimize future disputes.
Kathleen O'Brien and Mariel Giletto keep us up to date on the latest corporate tax changes in New Jersey.
Our corporate attorneys, Adam Chelminiak and Mariel Giletto discuss the recent online sales tax ruling and how it can affect businesses.
This week's Corporate blog discusses how post-employment restrictive covenants are enforced and how a new bill before the New Jersey Labor Senate Committee could affect business owners.