He was found dead at his desk by a worker on Wednesday morning.
Police said their investigation revealed that Murphy was last seen with his business partner, Thomas Battinelli.
Evidence tied Battinelli to the murder, police said, including a Browning .22 caliber long rifle, which has been traced to Battinelli and is believed to be the murder weapon.
Battinelli was charged on Thursday with murder, possession of a weapon for an unlawful purpose and hindering apprehension. Bail was set at one million dollars with no ten percent option.