Sarlo, Oroho, Bucco, Singleton Bill Would Help Small Businesses & Partnerships Preserve Tax Deductibility
Plan is ‘IRS-proof’ because it returns tax law to entity-level payment system
Legislation authored by Senators Paul Sarlo, Steven Oroho , Anthony Bucco, and Troy Singleton that will preserve the federal deductibility of an estimated $23 billion in state income taxes for small businesses and partnerships was approved by a Senate committee today.
Sens. Paul Sarlo, Steven Oroho, Anthony Bucco, and Troy Singleton’s bill will preserve the federal deductibility of an estimated $23 billion in state income taxes for small businesses and partnerships. (SenateNJ.com)
The legislation, S-3246, will amend New Jersey’s state tax code to the system that was in place prior to 1993 under which S corporations, Limited Liability Corporations (LLC’s) and other business partnerships directly paid the state income tax liability of their owners and partners. Entitled the “Pass-Through Business Alternative Income Tax Act,” the bill would establish an elective entity-level tax to be paid by pass-through businesses and would provide an offsetting credit to taxpayers who receive income from a pass-through business.
“This legislation will save hundreds of millions of dollars for the many New Jersey small businesses that are registered as S Corporations and pay their corporate taxes through the state income tax, as well as all of the law firms, medical groups, accounting practices and other partnerships that were created as LLCs,” said Senator Oroho, who is a Certified Financial Planner. “This plan works because the federal tax plan allows businesses to continue to deduct all of their taxes.”
Advanced: Bucco/Corrado Bill Package to Create American Legion License Plates
Bills Inspired by Local Member Aim to Promote Patriotism & Raise Funds for Vets
Two pieces of legislation sponsored by Senate Republicans Anthony Bucco and Kristin Corrado that would authorize the creation of two separate special American Legion Auxiliary license plates have been approved by the Senate Transportation Committee.
Legislation sponsored by Sens. Anthony Bucco and Kristin Corrado authorizing American Legion Auxiliary license plates has been approved by the Senate Transportation Committee. (©iStock)
The bills would authorize the NJ Motor Vehicle Commission (NJ MVC) to issue “American Legion Auxiliary” and “Sons of the American Legion” license plates.
“American Legion members honorably answer the call of ‘Service Not Self.’ These proud men and women have been instrumental in our efforts to advocate for policies that protect and uplift our nation’s heroes,” Sen. Anthony Bucco said. “These license plate designations are a great way to honor the Legion’s strong traditions, and support their efforts to serve, educate, and give back to local veterans.”
Senate Committees Advance Bucco and Lagana Bills to Increase School Security
Bipartisan legislation sponsored by Senators Anthony Bucco and Joseph Lagana to provide New Jersey law enforcement with the resources they need to protect local schools has passed the Senate Education Committee.
Bipartisan legislation sponsored by Senators Anthony Bucco and Joseph Lagana to provide New Jersey law enforcement with resources to protect local schools has passed the Senate Education Committee. (Flickr)
The Bucco/Lagana bill, S-2676, would require school boards to provide law enforcement with copies of blue prints and maps of schools and school grounds.
“Local police officers must have access to school blueprints to ensure they are never blind before entering the building during a crisis,” Bucco said. “In a true emergency, a 30-second delay could be the difference between a child making it out of the building alive, or dying inside. We have to make sure law enforcement officials have all of the information they need to protect students and teachers from harm. Giving them a map of the school is a commonsense way to do that. ”
Bucco/Oroho/Singleton Bill to Give Small Business Owners the Power to Cut Red Tape Passes Committee
Bipartisan bill would allow employers to challenge State Regulations that make it difficult to run a business in NJ
The Senate Budget Committee has passed bipartisan legislation sponsored by Senators Anthony Bucco, Steven Oroho, and Troy Singleton that would cut red tape for small businesses.
S-2345 would expand the scope of the existing New Jersey Regulatory Flexibility Act.
Bipartisan bill would allow employers to challenge State Regulations that make it difficult to run a business in New Jersey. (SenateNJ)
“Statewide small business owners face so many unnecessary bureaucratic hurdles. There is no denying that red tape is forcing job creators to leave New Jersey,” Sen. Anthony Bucco (R-Morris and Somerset) said. “This legislation would allow employers to have greater control of their destiny, making government less burdensome, and the economy more competitive.”
Pennacchio & Bucco: NJ Lost Honeywell’s HQ Because of Murphy’s Anti-Business Agenda
Senators Joe Pennacchio (R-26) and Anthony Bucco (R-25) released the following statement in regards to today’s reports that Honeywell, a Morris Plains-based company, is moving its global headquarters to North Carolina.
Sens. Joe Pennacchio and Anthony Bucco said Gov. Murphy’s bad-for-business policies are driving companies like Honeywell out of state. (Wikimedia)
Morris Plains is a municipality within Senator Pennacchio’s Legislative District.
“Governor Murphy’s anti-business agenda means we are always at risk of companies like Honeywell leaving for greener pastures,” Pennacchio said. “The Governor must focus more on New Jersey workers, and less on his expensive liberal wish list. Bad-for-business policies like the recent CBT increase and Murphy’s endless tax hikes force high-paying jobs out of state. We can’t afford it.”
Bucco & Advocates Fight for ‘Erin’s Law’ to Require NJ Schools to Teach Kids about Sexual Assault
After Years of Advocacy, Senate Committee Passes Erin’s Law to Require ‘Safe Touch’ Education in NJ School Districts
The Senate Education Committee has passed “Erin’s Law” legislation long-sponsored by Senator Anthony Bucco (R-Morris) to require school districts to incorporate sexual abuse prevention and awareness education into the NJ Student Learning Standards, formerly known as the core curriculum.
Senator Bucco is working with local advocates and child sexual abuse survivor Erin Merryn, for whom the law is named, to swiftly advance the measure. Merryn has successfully advocated to enact Erin’s Law in more than two dozen other states.
A copy of Erin’s testimony, as submitted to the Senate Committee, can be found here.
Erin’s Law, legislation long-sponsored by Sen. Anthony Bucco, would require NJ schools to teach kids about sexual assault. The bill is named for Erin Merryn, (pictured above) a survivor who has become a national advocate. (Photo courtesy of Erin Merryn)
“93 percent of kids who are sexually abused know their attacker – it could be family-friend, a sibling, or even a parent. Teaching our children not to talk to strangers just isn’t enough when their abuser could be hiding in plain sight,” Senator Bucco said. “The ‘safe touch’ education that Erin’s Law will require can empower kids to recognize the signs of abuse and speak out the moment it occurs.”
“We have spent years fighting for Erin’s Law and we will not stop until every child, in every New Jersey classroom, has access to this education,” Senator Bucco added. “No child should feel ashamed or suffer in silence. As a father, a grandfather, and a longtime advocate for all kids in my state, I am committed to working with my colleagues on both sides of the aisle to get this law passed this session. For the sake of our children, we simply cannot afford to let this bill die again.”
“Without Erin’s Law kids are often only going to be educated to be quiet on this matter and those are the kids that are being abused,” Erin Merryn said. “Had this law existed when I was a child, I could have spoken up. Instead I stayed silent. I am thrilled that Senator Bucco is sponsoring this bill and understands the importance of protecting kids from abuse. 35 states have already passed Erin’s Law. New Jersey should be next.”
Bucco Bill Designating NJ State Dog Passes Committee
Legislation sponsored by Senator Anthony Bucco (R-Morris, Somerset) that would designate the Seeing Eye® dog as the official New Jersey State Dog has passed the Senate Health and Human Services Committee.
The Seeing Eye® headquarters is located in Morristown. The organization has trained and matched more than 17,000 visually-impaired individuals with service animals.
Senator Anthony Bucco’s bill would designate the Seeing Eye® dog as the official New Jersey State Dog. (SenateNJ.com)
“For decades now, Seeing Eye has been placing loving service dogs into homes all around the country,” Bucco said. “It is an honor to be able to sponsor a bill that pays tribute to this organization’s legacy of uplifting our visually-impaired residents, by allowing them to live as independently as possible. These dogs are miracle-workers, plain and simple, and we are so grateful to have a group like Seeing Eye making a difference in our community, day in and day out.”
Bucco Bill to Improve Access to Emergency Prescriptions Passes Committee
The Senate Health and Human Services Committee has passed legislation sponsored by Senator Anthony Bucco (R-25) that would provide a pharmacist the ability to dispense medication in an emergency without a prescription.
Senator Anthony Bucco’s bill would provide a pharmacist the ability to dispense medication in an emergency without a prescription. (WikiMedia)
“In the time it takes to refill a prescription, people with serious medical conditions, such as allergies, can lose their lives,” Senator Bucco said. “Current law legally bars pharmacies from dispensing 30-day supplies of certain lifesaving drugs.
“When a woman reached out to my office to share how her son almost died because of this dangerous over regulation, I knew we had to push for this bill. By easing access to emergency medications, we can ensure that no mother ever has to go through the fear of losing her child like that ever again.”
Bucco Intros Constitutional Amendment to Support Disabled Law Enforcement Officers
Senator Anthony Bucco (R-25) has introduced a constitutional amendment that would create an annual $500 property tax deduction for permanently disabled law enforcement officers.
Sen. Anthony Bucco has introduced a constitutional amendment that would create an annual $500 property tax deduction for permanently disabled law enforcement officers. (Flickr)
“We must do more to support police officers who are injured in the line of duty,” Bucco said. “These men and women swore to protect us, at all costs. We cannot take away their pain, but we can express our gratitude for their service by easing the financial burden of living with a permanent disability. Providing an annual $500 property tax deduction so they can continue to get great care in their home state is a good start.”
Bucco Bill Would Create Tax Credit to Help Disabled Veterans Pay Rent
Legislation sponsored by Senator Anthony Bucco (R-25) that would create a gross income tax credit to help disabled veterans cover the cost of rent has passed the Senate Military and Veterans’ Affairs Committee.
Sen. Anthony Bucco’s legislation would create a gross income tax credit to help disabled veterans cover the cost of rent. (Dvidshub)
“Disabled veterans who rent, as opposed to own a home, are missing out on critical tax deductions. This is incredibly unfair. Every man or woman who has honorably served our country should have equal access to these programs,” Bucco said. “This legislation will extend our gratitude to all wounded heroes, by providing them with a $1,000 tax credit – regardless of where they live. Our veterans work hard to their pay rent. They deserve this opportunity.”
