Cosmetic Tax Sunsets in New Jersey
Plastic surgeons in New Jersey are no longer collecting cosmetic taxes for the first time in 10 years.
Thanks to efforts from the New Jersey Society of Plastic Surgeons, other specialty societies and industry partners, plastic surgeons are now able celebrate the full repeal of the cosmetic tax that was instituted nearly a decade ago.
Introduced in the state legislature by Rep. Joseph Cryan, the tax was supposed to create an additional revenue stream for the state's faltering budget, however, it actually was an excessive administrative burden.
Estimates have shown that the tax actually cost the state $3.39 per $1.00 collected. This data was extremely helpful in convincing the tax’s original sponsor, Rep. Cryan, to change his mind and introduce the bill that would eventually repeal the burdensome tax.
Congratulations to the New Jersey Society on their monumental achievement that has surely served as an example for the rest of the nation.