This bill, S 1656, provides New Jersey employers with a tax credit for hiring individuals with disabilities. Employers can claim a 15% credit on wages paid to qualifying employees (meeting ADA standards, working ≥35 hours/week at ≥$15/hour), capped at $2,000 per employee annually for both corporation business tax and gross income tax. To qualify, employers must apply for certification through the Division of Vocational Rehabilitation Services, which must approve applications within 90 days or the application is deemed approved. The credit directly affects New Jersey businesses that hire eligible workers with disabilities, reducing their state tax liability while promoting inclusive employment.
This bill eliminates a transaction-based requirement for remote sellers and corporations to pay New Jersey sales/use tax and corporate business tax. Currently, sellers must collect tax if they make 200+ separate transactions in New Jersey or exceed $100,000 in revenue. The bill removes the 200-transaction threshold, meaning only the $100,000 revenue rule remains to determine tax obligations. It directly affects out-of-state online retailers and corporations operating in New Jersey without a physical presence. The change applies only to future transactions, not retroactively.
This bill creates a tax credit for corporations selling retail products made entirely in New Jersey. Corporations can claim a $3.31 credit for every $100 in sales of qualifying "New Jersey made products," defined as goods where all significant parts, processing, and labor originate in New Jersey (with no more than negligible outside content). The credit reduces liability under New Jersey's corporation business tax, not sales tax. It directly affects businesses selling such products, offering a financial incentive to prioritize in-state manufacturing.
This New Jersey bill (S 1853) provides tax credits to small business employers (fewer than 25 employees, under $1 million annual revenue) and farm employers for increased mandatory insurance costs. It allows a credit equal to the difference between current-year costs for workers' compensation, disability, and unemployment insurance versus the prior year’s costs for the same employees/wages, capped at $12,000 annually. The credit applies to corporation business tax and gross income tax filings for tax periods starting January 1, 2020, through December 31, 2029. Businesses cannot use the same costs for other tax credits or incentives during overlapping periods.
This bill establishes the Public Education Innovation Fund within New Jersey's Department of Education to provide grants to low-performing public schools for implementing educational innovation programs. Schools qualify if they meet specific academic performance thresholds based on state assessment results, such as high percentages of students scoring below proficiency in math or language arts. Businesses that donate to this fund receive tax credits - up to $10,000 annually for gross income tax, and corporation business tax credits - directly tied to their donations. The total tax credits available annually are capped at $5 million, with certifications issued on a first-come, first-served basis. The fund aims to address academic barriers through innovative strategies in schools meeting the defined performance criteria.
S 2306 would impose a 2.5% tax on retail sales of firearms and a 10% tax on retail sales of firearms ammunition within New Jersey, directly affecting retailers who sell these items in the state. The tax applies only to sales made within New Jersey, excluding sales to government agencies (federal, state, or local) or deliveries outside the state. Retailers would collect the tax and pay it monthly to the Division of Taxation, with the tax taking effect 30 days after enactment for sales starting in the first full calendar quarter after that date. The bill defines "firearms" as weapons expelling projectiles via combustion and "firearms ammunition" as cartridges, shells, and related components.
This bill prohibits New Jersey from awarding state-funded contracts (for goods, services, or public construction) or development subsidies to "inverted domestic corporations" - defined as companies deemed to have moved operations overseas to avoid U.S. taxes under federal IRS rules (Section 7874). It requires all applicants to certify they are not inverted corporations and mandates annual status verification for subsidy recipients. If a recipient becomes an inverted corporation during a subsidy term, they must repay the full subsidy amount. The ban does not apply if compliance would violate federal law or block federal funding.
This bill (S 1750) requires New Jersey's Governor to include an annual, detailed report in the state budget message analyzing all tax breaks (known as "tax expenditures"). The report must list every tax break, show estimated revenue losses for past/current/future fiscal years, assess whether each break achieves its stated goals, and track who benefits - including whether benefits exceed 10% of a recipient’s tax bill. It also mandates evaluating how tax breaks affect tax fairness and requires businesses receiving tax benefits to provide data for analysis. This directly affects corporations, individuals, and entities benefiting from New Jersey’s tax breaks, as they may need to supply data for the report.
This bill provides tax credits to New Jersey breweries and wineries for purchasing Jersey Fresh products used in production. Businesses can claim a credit equal to the cost of qualifying Jersey Fresh commodities (verified through Department of Agriculture documentation), up to $10,000 per tax period. To qualify, applicants must submit receipts, verification of Jersey Fresh purchases, and an affidavit confirming the products were used in production. Unused credits may be carried forward for up to 20 years. The credit applies to both corporation business tax and gross income tax liabilities.
This bill creates a 50% tax credit for New Jersey employers subject to Corporate Business Tax (CBT) or General Income Tax (GIT) who pay for certain child care expenses related to their employees' children. It covers costs for building/maintaining on-site child care centers, contracting external providers, or subsidizing employees' child care payments, with a $100,000 annual limit per employer. Employers must apply for the credit through the state, submit documentation, and agree to use the funds for eligible child care services. The total credit pool across all employers is capped at $10 million yearly. The bill does not change existing tax rates but reduces tax liability for qualifying employers.
