Could It Be End Of The Line For New Jersey Botox Tax?

0
Could It Be End Of The Line For New Jersey Botox Tax?
image: Wikipedia

Is New Jersey Gov. Chris Christie about to make his state safer (or at least cheaper) for Botox fans Joan Rivers and Kim Kardashian? A press aide said late Wednesday that the outspoken Republican governor hasn’t yet indicated whether he’ll sign or veto a bill  repealing the state’s first-in-the-nation tax on cosmetic medical procedures—popularly known as the Botox Tax, or BoTax, after Allergan’s blockbuster anti-wrinkle treatment.

Christie has until next Tuesday to decide what to do with the repeal bill, which cleared the state’s Assembly unanimously and the state’s Senate by 33-2 on Monday, during the last hours of New Jersey’s 2011 legislative session. A 2006 repeal was vetoed by Christie’s Democratic predecessor—billionaire Jon Corzine, the now embattled ex-CEO of bankrupt brokerage firm MF Global.  The tax-happy Corzine also signed a 2006 expansion of New Jersey’s sales tax to cover a variety of services, including tanning, tattooing and massages (except where provided with a doctor’s prescription.)

The just-passed bill, S1988, would phase out New Jersey’s 6% tax on the gross receipts from cosmetic medical procedures in three stages, dropping it to 4% percent on March 1, 2012, to 2% on July 1, 2012, and to zero on July 1, 2013. The tax is now raising $10.8 million a year dedicated to a special state fund that pays for medical care for the poor. That’s less than half the $24 million a year it was projected to raise when the state adopted it in 2004.

Choice Equities Fund March 2021 Performance Update

Choice Equities FundChoice Equities Fund generated a net return of 29.2% for the 1Q 2021 resulting in annualized returns of 31.7% per year since inception of January 2017. Q1 2021 hedge fund letters, conferences and more Choice Equities Fund, LP Overview Choice Equities Fund (“CEF” or the “Fund”) is an investment partnership that seeks to generate market-beating Read More


Read More: http://www.forbes.com/sites/janetnovack/2012/01/12/n-j-botox-tax-repeal-awaits-christie-decision/

ValueWalk Premium Subscription Includes:

  • 3 Write-ups per month (EXCLUSIVE content that you won’t find anywhere else)
  • Personal Track Record from Jacob’s Brokerage
  • Any question you have answered within 48 hours
Could It Be End Of The Line For New Jersey Botox Tax?

No posts to display