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

The "Made in New Jersey Tax Credit Act" (S 2659) provides a tax credit to businesses that purchase products made in New Jersey for use in retail sales, manufacturing, or production processes. Businesses qualify for a credit equal to 25% of the ratio between their costs for New Jersey-made products and their total product costs, excluding items that couldn’t reasonably be substituted with New Jersey alternatives. A product qualifies as "New Jersey made" if all significant parts, labor, and processing originate in New Jersey, with negligible out-of-state content. The credit can be carried forward for up to seven tax years but cannot reduce taxes below the statutory minimum, and businesses are ineligible if two-thirds or more of their costs are excluded as non-substitutable.