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The New Jersey Life Sciences Vendors Alliance (NJLSVA) is a coalition of businesses, individuals and academia who provide goods and services to New Jersey’s life sciences companies.

The NJLSVA was founded to educate suppliers on trends in industry procurement and public policy that affects the life sciences industry.

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Gov. Christie Says Decision on Ending NJ-PA Tax Pact Coming Soon

Tax 1040Trenton, NJ, August 31, 2016 — David Levinsky reports in the Burlington County Times that Gov. Chris Christie says he’s close to making a decision on whether to end a nearly 40-year-old reciprocal income-tax agreement with Pennsylvania that spares residents who commute across the Delaware River for work from being taxed by the neighboring state.

Gov. Christie has been considering ending the pact since July, when he issued an executive order directing the state treasurer and attorney general to study the issue and the potential impacts.

He told reporters this week that he expected to reach a decision soon, after saying he was still reviewing the issue earlier this month.

“I’m studying it,” the Governor said last week during a town hall meeting in Bordentown City.  “We’re talking to the chamber down there and others to try to really get a feel of what the impact will be on South Jersey residents.”

The agreement, which dates back to 1977, prevents Pennsylvania residents who work in New Jersey from paying income taxes to the Garden State and vice versa.

Ending the agreement would force commuters to pay income taxes to both states, albeit with a credit against the taxes they owe to their home state based on what they paid to the state where they work.

Details on the impact of ending the agreement have not been released by the governor’s office.

However, Christie’s former treasurer, Andrew Sidamon-Eristoff, estimated in a December opinion column for the website NJ Spotlight that New Jersey would gain about $180 million.

Gov. Christie has until Thursday to make a decision, since ending the agreement requires a minimum of 120 days’ notice before termination at the start of a new calendar year.

For Levinsky’s full story, click here.