TITLE
ORDINANCE AMENDING AND SUPPLEMENTING TITLE X, FINANCE AND TAXATION, CHAPTER 21, NEWARK PAYROLL TAX, OF THE REVISED GENERAL ORDINANCES OF THE CITY OF NEWARK, NEW JERSEY, 2000, AS AMENDED AND SUPPLEMENTED, [I] MAKING THE ORDINANCE MORE CONSISTENT WITH THE NEW JERSEY EMPLOYER PAYROLL TAX STATUTE AND [II] AUTHORIZING A REDUCTION IN NEWARK PAYROLL TAX OBLIGATIONS FOR EMPLOYERS WITH WORKFORCES MORE THAN 50% OF WHICH ARE NEWARK RESIDENTS.
body
WHEREAS, in accordance with the New Jersey Employer Payroll Tax statute, N.J.S.A. 40:48C-14, et seq., the City of Newark previously adopted a "Newark Payroll Tax" ordinance codified at Section 10:21-1, et seq., of the Revised General Ordinances of Newark (a copy of which is attached hereto and made a part hereof); and
WHEREAS, in order to promote the effective and efficient enforcement of the Newark Payroll Tax ordinance, the Mayor of the City of Newark recommends that certain provisions of said ordinance be amended in order to make them more consistent with the New Jersey Employer Payroll Tax statute, which will in turn act to clarify and simplify the procedures for the imposition and collection of taxes under the Newark Payroll Tax ordinance; and
WHEREAS, in order to promote the hiring of Newark residents by employers located in Newark, the Mayor of the City of Newark recommends that the Newark Payroll Tax ordinance be amended in order to provide that for employers who have workforces 50% or more of which are Newark residents, the Newark Payroll Tax shall not be imposed relative to those employees above the 50% threshold who are Newark residents; and
WHEREAS, the Mayor and the Municipal Council of the City of Newark believe that such amendments of the Newark Payroll Tax ordinance would be beneficial to, and in the best interests of, the City of Newark and its residents.
NOW, THEREFORE, BE IT ORDAINED BY THE MUNICIPAL COUNCIL OF THE CITY OF NEWARK, NEW JERSEY, THAT:
[Note: Additions are in Bold and double Underli...
Click here for full text