PAGE HEADING

• A&A Update – 6/24/25

  Jun 24, 2025, 03:00 AM

• Navigating Succession Planning

  Jun 16, 2025, 13:07 PM

• A&A Update with Brad Muniz – 6/10/25

  Jun 10, 2025, 11:45 AM

• Bringing New Jersey’s Financial Picture into Focus

  Jun 3, 2025, 03:00 AM

• A&A Update with Brad Muniz – 5/27/25

  May 27, 2025, 09:57 AM

• Is Gen Z Reviving the Accounting Profession?

  May 20, 2025, 10:18 AM

• A&A Update with Brad Muniz – 5/13/25

  May 13, 2025, 03:00 AM

• Broadening Access to CPA Licensure

  May 6, 2025, 03:00 AM

• A&A Update with Brad Muniz – 4/29/25

  Apr 29, 2025, 03:00 AM

• What's Your "And?"

  Apr 22, 2025, 04:00 AM

• A&A Update with Brad Muniz – 4/15/25

  Apr 15, 2025, 03:00 AM

• Unpacking Fraud, Waste and Abuse with Forensic CPAs

  Apr 8, 2025, 03:00 AM

• A&A Update with Brad Muniz – 4/1/25

  Apr 1, 2025, 03:00 AM

• 2025 Crypto Landscape: Key Trends and Updates for CPAs

  Mar 31, 2025, 05:00 AM

• The Impact of Governor Murphy’s Proposed Budget

  Mar 25, 2025, 08:44 AM

• A Different Model to Address the Accountant Shortage

  Mar 11, 2025, 03:00 AM

• How Federal Changes Are Impacting New Jersey Businesses

  Feb 28, 2025, 03:00 AM

• AI: The Future of Accounting, or Just Hype?

  Feb 25, 2025, 03:00 AM

• Trends in Accounting Education

  Feb 11, 2025, 00:00 AM

• Uncovering Solutions for the Accounting Talent Gap

  Jan 28, 2025, 03:00 AM

NJCPA Applauds Governor Murphy’s Administration for Declaring Forgiven PPP Loans Exempt from State Income Taxes

Statement by Ralph Albert Thomas, CPA (DC), CGMA, CEO and Executive Director, New Jersey Society of Certified Public Accountants

The New Jersey Society of Certified Public Accountants (NJCPA) applauds Governor Murphy’s and State Treasurer Elizabeth Maher Muoio’s decision today to allow forgiven Paycheck Protection Program (PPP) loans to be exempt from New Jersey state income taxes, similar to how they are excluded from federal income taxes. We are also pleased with the decision to allow expenses paid with the loans to be tax deductible.

PPP loans were designed to help small businesses survive the COVID-19 pandemic — by keeping employees on payroll and their doors open. The loans have enabled these businesses to keep afloat and continue to do a great service to their communities.  

At the NJCPA, we recognize the need to bolster the small business landscape and assist the CPAs who serve these businesses and residents of New Jersey. We look forward to supporting the Murphy Administration in any way towards this endeavor.