Gov. Murphy Restores Urban Tax Break For Newark Businesses

By
Newark Speaks
-
164
625

By Eric Kiefer

NEWARK, NJ — Governor Phil Murphy just gave New Jersey businesses a big reason to operate in Newark, along with four other large Garden State cities: tax breaks.

Last week, the state Department of Community Affairs (DCA) announced that Urban Enterprise Zone (UEZ) incentives have been restored in the cities of Newark, Plainfield, Trenton, Camden and Bridgeton.

The program gives companies operating in those cities “saving opportunities” that include a reduced sales tax rate (currently 3.3125%) and tax-free purchases on certain items and improvements. Other possible incentives include financial assistance, subsidized unemployment insurance and additional tax credits.

Murphy signed the bill approving the UEZ incentives on May 30.

Lt. Governor Sheila Oliver said that she was “thrilled” to see the program restored in the five cities.

“There is a lot of work to be accomplished in our urban areas and I am hopeful that this program will give Newark, Plainfield, Trenton, Camden and Bridgeton one more tool to stimulate their local economies and provide much needed jobs for New Jerseyans,” Oliver said.

To participate in the UEZ Program, businesses must be:

  • Registered with the State of New Jersey
  • Located within one of the 32 designated zones
  • Be in tax compliance with the State of NJ
  • Certified by the New Jersey UEZ program

According to the DCA, UEZ business certification applications can be accessed by first creating a new NJ Premier Business Services (PBS) account online. Businesses with a PBS account can complete and submit the UEZ Certification Application. Step-by-step instructions can be found at: www.nj.gov/dca/affiliates/uez/publications/pdf/PBSInstructions.pdf

For general assistance and inquiries contact the Urban Enterprise Zone Program Help Desk in the State Department of Community Affairs at 877-913-6837 or online: http://www.nj.gov/dca/affiliates/uez

The five municipalities that have been re-instated in the UEZ program can also assist businesses in applying for certification and can be contacted at the following numbers:

  • Newark: 973-273-1040
  • Plainfield: 908-886-2513
  • Trenton: 609-989-3508
  • Camden: 856-968-3531
  • Bridgeton: 856-451-3407

RELATED ARTICLESMORE FROM AUTHOR

164 COMMENTS

  152. [url=https://onlinefluoxetine.online/]fluoxetine hcl 20 mg tablets[/url] [url=https://amoxicillinmedication.online/]amoxicillin pills 500 mg[/url] [url=https://tadalafilgenericm.online/]india tadalafil capsule cheap[/url] [url=https://cialissm.online/]where to buy cialis uk[/url]

LEAVE A REPLY

Please enter your comment!
Please enter your name here