Oroho most proud of helping businesses

POLITICS. Retired state senator says lawmakers’ most important work is serving constituents.

| 17 Mar 2024 | 05:20

State Sen. Steve Oroho, R-24, retired early this year after serving 16 years in the New Jersey Senate.

During his time as a lawmaker, there were many accomplishments that made him proud. The main one was helping local businesses.

Oroho said he always strived to make New Jersey businesses competitive with those in other states.

One law he passed helped limited liability companies, limited liability partnerships, S corporations and sole proprietors with operating losses.

“The biggest thing and the most important thing that we do as legislative officers is constituent service work,” Oroho said. “When that phone rings, it doesn’t matter if they’re Republican, Democrat or any other party. I don’t even look at that. If they need help, I will help them.”

Oroho focused on reviewing regulations that were in place, rather than writing new ones. This led to the Red Tape Review Commission, which was proposed in a bill that he helped write. That law was passed and signed by former Gov. Chris Christie.

Path to Senate

Oroho was raised in West Milford and later moved to Franklin.

He got his start in politics when there was a vacancy for mayor and he was urged to run. Councilman Ed Allen won that race, which meant a council seat was open for Oroho.

He served on the Franklin Borough Council from 2001 to 2006 and on the Sussex County Board of Chosen Freeholders from 2005 to 2007.

In 2007, he ran for the state Senate and was endorsed by Robert Littell, who was retiring. He represented the 24th Legislative District from 2008 to Jan. 9, when he was succeeded by Assemblyman Parker Space.

Oroho graduated from Saint Francis University with a bachelor’s in accounting and worked as a certified financial planner for Stonebridge Capital Management.

Because of his knowledge and credentials in finance, he served on the budget committee every year he was in office.

His colleagues held him in high regard, and he served as the Senate Minority Leader starting in 2022.

At his retirement, they expressed their gratitude in a Senate Resolution that said, “Throughout his momentous career in state and local government, Steven V. Oroho has set a standard of excellence in public service and in doing so has provided a model of faithful commitment worthy of emulation.”

Oroho said, “If you have determination and persistence, any one can become a state senator.”

He has joined Nisivoccia Wealth Advisors, an accounting and wealth management firm based in Mount Arlington.

He plans to continue to work in finance and to focus on his family, which includes his wife, five children and 10 grandchildren.

P.L. 2008, C.102, signed into law Nov. 24, 2008, created a new net operating loss carryover under the Corporation Business Tax.
The law provides that a net operating loss for any privilege period ending after June 30, 2009, shall be a net operating loss carryover to each of the 20 privilege periods following the period of the loss.
The new 20-year carryover applies only to net operating losses accruing for privilege periods ending after June 30, 2009.
Net operating losses accruing for privilege periods ending before June 30, 2009, continue to have a net operating loss carryover to each of the seven privilege periods following the period of the loss.