"Made in New Jersey Tax Credit Act"; provides CBT tax credits to taxpayers that purchase "New Jersey made" products.

This bill creates a 25% tax credit for New Jersey businesses that purchase "New Jersey made" products for retail sales, manufacturing, or production processes. The credit equals 25% of the ratio between costs for qualifying New Jersey products and total product costs, excluding items that couldn't be substituted with local alternatives. Businesses must demonstrate that less than two-thirds of their product costs couldn't be replaced with New Jersey-made options to qualify. Unused credits can be carried forward for up to seven tax years, but the credit combined with other credits cannot reduce tax liability below the statutory minimum. A "New Jersey made" product is defined as one where all significant parts, processing, and labor originate in New Jersey with negligible out-of-state content.