***MULTIMEDIA PACKAGE*** Greenwald Commentary on Enactment of Bill to Aid Start-Up/Small Businesses in New Jersey

By James Sverapa IV | November 24th, 2008 - 7:28pm
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Release Date: 
Nov 25 2008
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Assembly Democrats News Release

GREENWALD COMMENTARY ON ENACTMENT OF BILL TO AID START-UP/SMALL BUSINESSES IN NEW JERSEY

New Law Will Help Businesses Spread Losses Out Over Longer Time Period; Lower Their Corporate Tax Burden

(TRENTON) - Assemblyman Louis D. Greenwald today released a multimedia package on the November 24 enactment of legislation (A-3124) he sponsored to allow businesses in New Jersey to write-down net operating losses for up to 20 tax years, as opposed to the previously allowed seven years, putting New Jersey in line with neighboring states.

GREENWALD COMMENTARY ON ENACTMENT OF BILL TO AID START-UP/SMALL BUSINESSES IN NEW JERSEY New Law Will Help Businesses Spread Losses Out Over Longer Time Period; Lower Their Corporate Tax Burden (TRENTON) - Assemblyman Louis D. Greenwald today released a multimedia package on the November 24 enactment of legislation (A-3124) he sponsored to allow businesses in New Jersey to write-down net operating losses for up to 20 tax years, as opposed to the previously allowed seven years, putting New Jersey in line with neighboring states.The multimedia package consists of a video op-ed on the topic, audio of same and quotes from Greenwald on the landmark legislation.The video op-ed can be accessed directly via our Web site, www.assemblydems.com, or by clicking here.The audio file is available upon request.Assemblyman Greenwald's (D-Camden) quotes are appended below:"This is an important piece of legislation and as you've heard me say many times, the worldwide economic crisis that we are experiencing right now did not begin in New Jersey and it won't be solved in New Jersey."But just like businesses all across this country that are re-evaluating themselves - they're looking in ways to redefine themselves, to figure out a way to compete in that global market against their competitors - New Jersey must do the same thing and it begins quite frankly with legislation like this."It's going to benefit many small businesses around the state that have grown their businesses in New Jersey and have stayed here. It's going to allow them to write off their losses for up to 20 years, but it's also going to allow businesses that are looking right now to start up - those that are looking to invest in research and development."On the Net:  www.assemblydems.com

Contact Info: 

Assemblyman Greenwald
(856) 435-1247
James Sverapa IV
(609) 292-7065

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