Proceeds will benefit Senate Republican Majority, a legislative leadership committee. New Jersey Election Law allows contributions with a limit of $79,000 annually from individuals, PAC’s and corporations except from those entities regulated by the State of New Jersey (casinos, financial institutions, insurance companies, utilities.)
A partnership or limited liability company may not contribute as an entity. However a check from a partnership or limited liability company may be accepted so long as it is accompanied by a letter allocating the contribution to the individual partner(s) or member(s) and is signed by each contributing partner or member. The letter must include each contributing partners home address. A partner’s total contribution, through the partnership and personally, cannot exceed the $79,000 annual limit. Contributions are not deductible for income tax purposes.
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