Contact Us
Make My Homepage

Tax Credits Possible for Seasonal Employers [AUDIO]

Shore-area businesses being hit with higher costs associated with the minimum wage increase could get some assistance, under proposed legislation announced during a press conference on the Wildwood boardwalk Monday.

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

(denisvrublevski, ThinkStock)

New Jersey Assemblyman Sam Fiocchi (R-Vineland) is sponsoring a bill that would provide seasonal employers with credits against their corporate business tax and gross income tax, due to increased labor costs caused by the state’s 14 percent rise in the minimum wage in January.

“It gives them a credit between the federal minimum wage, which is $7.25, to the state minimum wage, which is $8.25,” Fiocchi said.

It’s a win-win for everybody, according to Fiocchi.

“The employees will get the increased minimum wage, but then the employers are able to maintain prices and maintain employment levels,” Fiocchi said.

Not providing a credit such as the one he is proposing would hurt the middle class, Fiocchi said, adding, “All we’re trying to do is keep jobs and spur people to come to the shore. In the end, that creates more taxes and it actually pays for itself.”

The assemblyman was joined at the event by Cape May freeholder Will Morey, who owns Morey’s Piers in Wildwood, and Ocean City mayor Jay Gillian.

The measure has some bipartisan support, Fiocchi said, noting the bill must go through a legislative committee and then to the floor for a vote. He’s hoping to have it passed by the end of June.

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://nj1015.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!