In our Spotlight on Business Report a contentious plan to rewrite the state's corporate tax code is moving through the legislature the 51-page bill includes dozens of intricate changes to New Jersey's already complicated tax codes for businesses it's being hailed by the treasury Department and business groups as a way to make the state more competitive opponents though are calling it a tax break for corporate Giants one of the biggest changes would allow the state to depart from the federal government in how multinational corporations can shift profits out of the U.S tax base and into subsidiaries in tax Havens overseas the provision is commonly called guilty Global intangible low taxed income and is opposed by citizen advocacy groups who say it enables big corporations to avoid paying their fair share of taxes to states where they do business the industry though says the state state is already an outlier because it taxes guilty at a higher rate than most other states the bill has the backing of both the Murphy Administration and the Democratic controlled legislature support for the business report provided by the Chamber of Commerce Southern New Jersey working for economic Prosperity by uniting business and Community leaders for 150 years membership and event information online at chamber snj.com [Music]