Provides corporation business tax credits and gross income tax credits to small business employers and farm employers related to increase in State minimum wage.

New Jersey's S 1852 provides tax credits to small businesses (fewer than 25 employees and under $1 million annual revenue) and farm employers to offset increased labor costs from the state's minimum wage hike enacted in 2019. The bill allows a credit equal to the difference between the new minimum wage and the previous rate, multiplied by hours worked, for both corporate business tax and gross income tax. Credits are capped at $12,500 per employee and can be carried forward for up to 10 years. This directly affects small business owners and farm employers paying hourly wages who face higher payroll expenses due to the 2019 minimum wage increase.