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  • Tax Reciprocity Background

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    NJ Food Council
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    The document discusses the current reciprocal personal income tax agreement between New Jersey and Pennsylvania that allows residents who work in the other state to only pay income taxes in their state of residence. However, New Jersey Governor Chris Christie is threatening to terminate the agreement, which could result in tax increases for thousands of Pennsylvania residents who work in New Jersey and New Jersey residents who work in Philadelphia, as both groups would have to file tax returns in each state. Terminating the agreement may negatively impact an estimated 200,000 to 250,000 people in both states by making it more expensive to operate businesses in New Jersey and harder to attract and keep employees.

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    Background information on the Tax Reciprocity Agreement between NJ and PA

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    The document discusses the current reciprocal personal income tax agreement between New Jersey and Pennsylvania that allows residents who work in the other state to only pay income taxes in their state of residence. However, New Jersey Governor Chris Christie is threatening to terminate the agreement, which could result in tax increases for thousands of Pennsylvania residents who work in New Jersey and New Jersey residents who work in Philadelphia, as both groups would have to file tax returns in each state. Terminating the agreement may negatively impact an estimated 200,000 to 250,000 people in both states by making it more expensive to operate businesses in New Jersey and harder to attract and keep employees.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    15 views1 page

    Tax Reciprocity Background

    Uploaded by

    NJ Food Council
    The document discusses the current reciprocal personal income tax agreement between New Jersey and Pennsylvania that allows residents who work in the other state to only pay income taxes in their state of residence. However, New Jersey Governor Chris Christie is threatening to terminate the agreement, which could result in tax increases for thousands of Pennsylvania residents who work in New Jersey and New Jersey residents who work in Philadelphia, as both groups would have to file tax returns in each state. Terminating the agreement may negatively impact an estimated 200,000 to 250,000 people in both states by making it more expensive to operate businesses in New Jersey and harder to attract and keep employees.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    NJ-PA RECIPROCAL PERSONAL

    INCOME TAX AGREEMENT

    WHAT IS THE CURRENT AGREEMENT?


    Residents of Pennsylvania who work in New Jersey and residents of
    New Jersey who work in Pennsylvania do not have to pay income
    tax in the state they work only in the state in which they live.

    WHAT IS HAPPENING NOW?


    New Jersey Governor Chris Christie is threatening to terminate the agreement,
    that could result in tax increases for employees living in Pennsylvania, and also
    raising taxes on thousands of New Jersey residents who work in Philadelphia.
    Both would have to file tax returns in each state.
    This issue affects an estimated

    200,000 to 250,000
    people in both states.

    WHAT DOES THIS MEAN?


    This makes it more expensive to operate
    in New Jersey; virtually stops economic
    development in Camden; and makes it
    harder to keep and attract employees.

    WHAT CAN YOU DO?


    Take action and write
    your elected official!

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