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

S 3558, the "Made in New Jersey Tax Credit Act," provides businesses a tax credit equal to 25% of the cost of purchasing "New Jersey made" products used in their retail sales or manufacturing. It directly affects New Jersey corporations paying the corporation business tax (CBT) that buy qualifying products for their operations. To qualify, businesses must demonstrate that most of their product purchases could have been substituted with New Jersey-made alternatives, excluding costs for products that couldn’t be replaced. The credit can be carried forward for up to seven years if not fully used in the current tax year. A "New Jersey made" product is defined as one with all or virtually all significant parts, processing, and labor originating in New Jersey, containing negligible out-of-state content.