Proceeds will benefit Senate Republican Majority, a legislative leadership committee. New Jersey Election Law allows contributions with a limit of $25,000 annually from individuals, PAC’s and corporations except from those entities regulated by the State of New Jersey (casinos, financial institutions, insurance companies, utilities.) Vendors doing or seeking to do business with the State of New Jersey and certain individuals associated with those vendors may also be prohibited from contributing in excess of $300 per election.
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 $25,000 annual limit. Contributions are not deductible for income tax purposes.