Provides gross income tax credits to support development of New Jersey-based small business start-ups.

This bill provides tax credits to New Jersey-based small businesses during their first three years of profitability. Qualified businesses (those registered in NJ, with no more than 50 employees in their first year, and under $100,000 net income) receive credits equal to 75% of their tax liability in the first year, 50% in the second year, and 25% in the third year. Businesses must obtain pre-approval from the Division of Taxation before applying for these credits, and the credits can only be used to offset tax liability for the specific year they apply to. The bill aims to reduce tax burdens during critical early years of business operation to support growth.