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Boston College’s Center on Wealth and Philanthropy released a study this week showing that $70 billion in wealth left New Jersey between 2004 and 2008 — leading to a decline in charitable capacity of nearly $2 billion.  According to the report: “Wealth began to leave New Jersey around the time when a series of changes to the state’s tax structure made it less competitive for charitable families compared to neighboring states. New Jersey’s state income taxes have risen to levels above New York, Pennsylvania and Connecticut, and there is not a deduction on state income taxes for charitable giving.”

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