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Charlotte, NC
Informing and Connecting Engaged Citizens
USA
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April 20, 2015
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NJ Policy Perspective Assess Recent Tax Expenditure Report

"Pursuant to P.I.2009, C.189, a State tax expenditure report must be included in the Govenor's annual budget message. This is the sixth annual tax expenditure report."

"There are features within the tax system whose functions are tantamount to direct expenditures. Rather than sending a payment to a recipient for performing a specific public service, his/her tax revenue is simply reduced by that amount and the same effect is realized, while eliminating an unnecessary exchange. When the State disburses resources from revenue already collected, it is referred to as a direct expenditure; when revenue collected is reduced, instead, the practice is termed, tax expenditure. Certain tax code provisions, as implemented for administrative purposes, may represent direct expenditures. The intent of other provisions is to aid in the efficient collection of revenue. The compliers of this report have made every effort to highlight those provisions which represent actual tax expenditures."

Noted in the New Jersey Tax Expenditures Report

See link to full article below.
Source:
New Jersey Tax Expenditures Report New Jersey Policy Tax Report
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