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tax

Here’s Important Info About Your New Jersey Middle Class Tax Rebate Check

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It’s always awesome, and pretty rare, to get a happy surprise in your mailbox mixed in with all those bills. People throughout New Jersey may have been surprised to find a check in the mail in the past few weeks.. Have you gotten your Middle-Class Tax Rebate check yet?

The Middle-Class Tax Rebate was added into the 2021 budget by Governor Phil Murphy and the check comes with a friendly reminder of that.

Continue Reading on 943 The point

Sales tax revenue in New York grows by more than 57%

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Sales tax collections in New York grew by 57.8% in May over the same month a year ago in yet another sign the state’s economy is rebounding, Comptroller Tom DiNapoli on Wednesday announced.

Revenue reached $140 billion from the sales tax in May, an increase of $530 million from last year when the COVID-19 pandemic largely closed most businesses in New York.

“For the second straight month, local sales tax collections had a tremendous boost. Strong collections in May show the economy continues to improve as spending rebounds from the effects of the COVID-19 pandemic and the standstill it created in New York state in March 2020,” DiNapoli said. “Combined with direct federal assistance and restored state aid, the recovery of sales taxes will help New York’s local governments rebound from the effects of last year’s revenue shortfalls.”

Sales tax is a key barometer for local governments, helping them keep other taxes low and as a sign of general consumer economy health.

Continue Reading on Spectrum Local News

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