Senator Joe Kyrillos, a member of the Senate Economic Growth Committee, announced that a bill he was a longtime sponsor of, S-2130, was signed into law today. The legislation would extend the net operating loss carry-forward from seven to 20 years, this mirrors federal law.
“In this economic environment it is vital that we take every step possible to encourage job creation in New Jersey,” Kyrillos stated. This bill will allow companies in their initial start up phase to carry forward certain operating losses.”
No single governor or legislature can steer the economy out of a global recession. But what we can do and must do is make New Jersey competitive again. We must focus on implementing policies that encourage job creation and not return to failed policies that discourage innovation and growth,” Kyrillos concluded.
Link to Post:
http://www.senatenj.com/index.php/kyrillos/kyrillos-job-creation-bill-signed-into-law/1619
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November 19, 2008
