Be ready for 4 new NJ taxes that take effect right now

It seems like every couple of months I am writing an article on this website for a new tax that Gov. Phil Murphy has dreamed up. It’s good to keep up on them, especially since they’re coming fast and furious. Oct1 brings you four new ones that I just wanted to remind you about, in case you felt like you were getting a break from taxes for a while.

Although one would think that during the pandemic when businesses are shut down and people are hurting financially there would be some kind of tax amnesty program, the opposite it is actually true in New Jersey. When we need money, our favorite place to get it is from taxpayers.

None of this should come as a surprise to you, since Murphy basically ran on the platform of raising taxes. But for those of you who haven’t been keeping up with the class here are the taxes you need to get used to right now and what they mean.

1. Corporate business tax

Another brainchild of a governor who has proven in so many ways and so many taxes and so many regulations that he doesn’t give a fig about business. Sure there’s a threshold for this. You have to be making a certain amount of money in your business. And once again, if you’re successful in this state, you will be punished for it.

2. HMO tax

Basically another way to contribute to the healthcare of people who can’t afford it. This tax will generate money for hospitals to dole out as charity care.

3. Increase in the gas tax

While we can’t completely blame this one on the governor, it’s his ilk that made it possible. We went from being a state with one of the lowest gas prices in the country to one of the highest. This is what happens when you have to tap into any possible resource to feed the hungry New Jersey special interests and government machinery.

4. Millionaires tax

See No. 1 above. Gov. Robin Hood is up to it again. Finally got his long yearned- for millionaires tax to rob from the rich and give to the poor (and the pension-promised).

The post above reflects the thoughts and observations of New Jersey 101.5 talk show host Judi Franco. Any opinions expressed are Judi's own.