Requires Director of Division of Taxation to conduct study on impact of State business income taxation on business out-migration, formation, and employment for previous and upcoming tax years.

S 323 requires New Jersey's Director of the Division of Taxation to study how the state's business income taxes affect businesses leaving (out-migration), starting new businesses (formation), and hiring workers (employment). The study will examine tax return data from corporations and partnerships for eight years before and after the bill's effective date. The Director must submit a first report by January 15, 2028, detailing findings and recommendations for potential tax law changes to improve New Jersey's business climate, followed by annual reports for seven years. This bill directly affects state tax policy analysis but does not change tax rates or laws itself.