A new year brings new laws in New Jersey, tax cuts and a minimum wage hike among them.
The Garden State continues to roll out tax changes that Gov. Chris Christie and the Legislature agreed to in 2016 as part of negotiations to raise the gasoline tax and replenish the transportation trust fund.
Notably, New Jersey no longer has the distinction of being one of only two states to collect an estate tax and an inheritance tax. As of Jan. 1, Maryland is on its own.
Business and commerce groups pushed for the elimination of the estate tax, which they argued chased wealth out of the state, while liberal advocacy groups called it a giveaway to the rich at the expense of funding for much-needed safety net programs.
Here are seven new laws that may affect you that took effect Jan. 1: A bump in the minimum wage; New expiration dates for driver’s licenses; A cut in the sales tax; Death of the estate tax; No more public safety interest arbitration cap; Retirement income tax exclusion gets a boost & Carbon monoxide poisoning education for drivers.