S 616 provides New Jersey businesses with tax credits for installing electric vehicle (EV) charging stations and converting commercial vehicle fleets to zero-emission models. Businesses that purchase and install EV charging stations (capped at $1,000 per station) or buy qualifying zero-emission vehicles (with credits up to $100,000 based on vehicle weight) can claim a 50% credit against corporation business tax or gross income tax. To qualify, businesses must apply for certification from the Environmental Protection Commissioner, proving purchase dates, costs, and installation details, with decisions made within 90 days. The credits apply for five years starting after the bill’s effective date and require submitting certification with tax returns.
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.
This bill repeals a 2.5% surtax (the "Corporate Transit Fee") that applied to certain corporations with over $10 million in New Jersey taxable income during specified periods. It directly affects large corporations paying the Corporation Business Tax (CBT) that met this income threshold, eliminating an additional fee they previously owed. The fee, which was imposed alongside regular CBT payments, funded New Jersey Transit operations and capital projects starting in fiscal year 2026. The repeal takes effect immediately upon enactment, removing this requirement for all future privilege periods.
This bill provides New Jersey employers with a temporary tax credit of 50% (up to $50,000 per year) against corporation business and gross income taxes for costs spent building, renovating, or improving real property used to operate on-site child care centers. The credit directly affects businesses that construct or maintain facilities primarily serving the children of their own employees. To qualify, employers must commit to operating the child care center for 60 consecutive months and enter a binding agreement with the state director to verify expenses and maintain compliance. The credit is available for three calendar years following the bill's effective date and requires documentation to prevent misuse.
S 659 provides a 35% tax credit for New Jersey taxpayers who install solar energy systems on their property, directly affecting residential homeowners, apartment building owners, and businesses. The credit covers 35% of qualified solar equipment costs (purchase, installation, or long-term leases), with annual limits of $5,000 for single-family homes, $350 per apartment unit, and $500,000 for commercial or industrial properties. Taxpayers must apply for certification from the Environmental Protection Commissioner, and unused credits can be carried forward for up to seven years. The total annual tax credit funding is capped at $25 million across all eligible properties.
This New Jersey bill (S 476) creates a tax credit for businesses with headquarters in the state that hire workers who lost jobs due to automation. It provides a credit equal to 10% of the salary paid to each qualifying employee (capped at $2,500 per employee per year), provided the business employs them for at least seven months. To qualify, the employee must have previously been laid off because their job was replaced by automation - defined as systems that perform tasks without continuous human input. The credit applies to both corporation business tax and gross income tax, directly benefiting affected workers and incentivizing NJ-based employers to hire them.
This New Jersey bill (S 1360) creates tax credits for residents and employers who pay student loans used for higher education expenses. Qualified taxpayers (New Jersey residents with associate’s, bachelor’s, or graduate degrees in STEM fields who worked in the state) can claim a credit against their state income tax equal to a portion of their student loan payments, based on a federal benchmark. Employers can also claim a credit for paying employees’ eligible student loans (100% for full-time, 50% for part-time), with unused credits carried forward up to seven years. The bill specifically targets STEM graduates and aims to reduce student debt burden through state tax incentives.
This New Jersey bill (S 1612) provides a 10% tax credit against corporation business tax and gross income tax for farmers who purchase qualified farming equipment. It directly affects New Jersey farmers engaged in eligible operations - such as growing crops, raising livestock, or aquaculture - by allowing them to reduce their tax liability by up to 10% of equipment costs. To claim the credit, farmers must obtain certification from the New Jersey Department of Agriculture confirming their operation qualifies and equipment was acquired, with strict deadlines for processing. The credit cannot exceed 25% of a farmer’s tax liability for the year and may be carried forward if unused.
S 739, the "New Jersey Loves New Jersey Farmers Act," provides tax credits to New Jersey commercial farm operators who grow crops for human consumption (like fruits and vegetables) but not livestock feed. It allows these farms to claim credits against corporation business tax or gross income tax equal to certified "price loss" (revenue loss from falling crop prices), verified by the State Agriculture Secretary. The credits are limited to 50% of tax liability per year and can be carried forward for up to seven years if not fully used. This directly benefits farm businesses experiencing price declines, offering financial relief tied to verified market losses.
This bill creates tax credits for New Jersey businesses that pay a salary differential to employees serving in the National Guard or reserve forces during active duty. Specifically, businesses can claim a credit equal to the amount they pay to make up the difference between an employee's regular salary and their military pay during active duty. The credit applies to both corporation business tax and gross income tax, but cannot exceed 50% of the business's tax liability for that period. It directly affects New Jersey employers with qualifying National Guard or reserve members who receive military orders for active duty.
