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

S 1453 provides tax credits to New Jersey small businesses during their first three years of operation. It directly affects qualifying businesses registered in New Jersey with no more than 50 employees and $100,000 or less in net income during their first taxable year. The bill offers tiered credits: 75% of gross income tax liability in year one, 50% in year two, and 25% in year three. Businesses must apply for authorization from the state director to claim these credits, ensuring they operate independently from other businesses owned by the same taxpayer. The bill is currently pending in the Senate Economic Growth Committee.