02
Sep
2009
"We hold that all men are endowed by their state representatives with certain alienable privileges…"
I’m doing research for the next installment in PRI’s California Prosperity Project, and came across this rather ominous statement on page C-3 in a report [.pdf] from New Jersey’s Treasury:
The Corporation Business Tax imposes a franchise tax for the privilege of having or exercising a corporate charter or doing business, employing or owning capital or property, or maintaining an office in New Jersey.
I grant that maybe this is only related to the special legal privileges that come with incorporation, but they seem to be making a distinction between having a corporate charter versus the other stuff. In any event, it’s a bit disturbing that they are talking about the privilege of owning property in the State of New Jersey.
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