Bloomberg Tax
Free Newsletter Sign Up
Bloomberg Tax
Welcome
Go
Free Newsletter Sign Up

New Jersey Tax Incentive Oversight Is Better, Not Good Enough

Jan. 6, 2022, 12:49 AM

The New Jersey Economic Development Authority is better at verifying which employees qualify a company for tax incentive awards than it was two years ago, but has made little or no progress to increase transparency or accountability for the incentive programs it administers, the New Jersey Comptroller said.

The authority has complied with 11 of 21 recommendations the comptroller made in a January 2019 audit, according to a report posted Wednesday reviewing the authority’s progress. The original audit prompted Gov. Phil Murphy (D) to appoint a tax force to examine the incentives.

  • New policies and procedures ensure employees work ...