On June 30, 2025, Governor Phil Murphy signed into law the FY 2026 state budget (the “FY 2026 budget”), totaling $58.8 billion (see our prior alert New Jersey Enacts FY 2026 Budget: Key Takeaways). The FY 2026 budget...more
The latest budget passed by the New Jersey legislature and signed by term-limited Governor Phil Murphy quietly enacted changes to New Jersey’s Mansion Tax, which affects not only residential properties but commercial...more
On April 3, 2025, New Jersey Department of Health (NJDOH) Commissioner Dr. Kaitlan Baston appeared before the Senate Budget and Appropriations Committee to present Governor Murphy’s proposed Fiscal Year 2026 State Budget for...more
In his final budget address, Governor Phil Murphy is proposing a $58.05 billion plan, with a strong emphasis on preserving funding for critical priorities while cutting spending on various programs. The address underscores...more
Following extensive deliberations and legislative actions, Governor Phil Murphy signed the Fiscal Year 2025 New Jersey Appropriations Act on Friday night, setting the state’s financial course for the upcoming fiscal year. The...more
After a tumultuous week of drafting and negotiations on State Street, Governor Phil Murphy has signed into law the Fiscal Year 2024 New Jersey Appropriations Act, formalizing the State’s budget for the upcoming fiscal year....more
New Jersey Governor Phil Murphy and State Democratic leaders announced yesterday a revised fiscal year 2021 budget that raises the State’s gross income tax rate on income for families now earning between $1 million and $5...more