This bill creates a $1,500 nonrefundable tax credit for New Jersey residents who meet specific criteria: graduating from a New Jersey high school and a New Jersey institution of higher education with a 3.5+ GPA, then working full-time (25+ hours/week) for a New Jersey employer within two years of graduation. The credit applies only to the first five consecutive tax years of eligible employment and cannot reduce tax liability below zero. It directly affects New Jersey graduates who pursue higher education and employment within the state, aiming to encourage retention in the state workforce. The credit is limited to undergraduate degree holders from public or private NJ institutions meeting the GPA and employment requirements.
This bill provides tax credits to electricity generators (companies operating power plants) who increase their energy output by at least 5% through qualifying infrastructure upgrades. Generators can claim credits covering up to 75% of upgrade costs or $5 million per company, whichever is lower, to offset Corporate Business Tax and gross income tax. To qualify, generators must apply for certification showing the 5% production increase, documenting specific upgrades like efficiency improvements, grid technology, or renewable energy integration. The total credits across all generators are capped at $100 million statewide, and unused credits may be carried forward for up to four tax years. The program requires documentation of actual energy production changes and prohibits double-counting with other tax benefits.
This bill proposes a New Jersey tax credit for businesses that hire formerly incarcerated individuals. Businesses would receive a 10% credit on qualified wages paid to these employees (capped at $1,200 per person per tax year), provided they hire at least 25% formerly incarcerated new employees and maintain 50% of those hires from the previous year. To qualify, employees must be in sustained employment (at least 185 business days) and businesses must conduct targeted recruitment for formerly incarcerated individuals and their immediate families. The bill includes safeguards against abuse, such as denying credits if businesses displace other workers solely to claim the credit, and prevents double-dipping with other state tax credits.
This bill allows New Jersey parents and guardians to deduct up to $1,200 from their taxable income for eligible school supply purchases made for students in public or private K-12 schools or higher education institutions. It specifically covers common items like notebooks, pencils, folders, calculators, paper, and other standard classroom materials. The deduction applies to purchases made during the taxable year and takes effect for years beginning after the bill's enactment date. This creates a direct tax benefit for families covering recurring school-related expenses.
This bill creates a 35% tax credit for New Jersey theater production companies covering eligible "pre-Broadway" (shows preparing for Broadway) and "post-Broadway" (shows starting national tours after NYC runs) productions. It directly affects theater companies performing at qualified venues (350+ seats) in New Jersey, allowing them to offset up to 35% of production costs like sets, payroll, and advertising. Companies must apply to the New Jersey Economic Development Authority (NJEDA), with credits capped at $10 million annually per fiscal year. The credit applies to specific expenditures including venue use, crew wages, and marketing, but cannot reduce tax liability below minimums or be carried forward beyond three years.
This New Jersey bill (A4478) allows residents to deduct certain health club expenses from their gross income tax. It permits a maximum annual deduction of $5,000 for married couples filing jointly, heads of household, or surviving spouses, and $2,500 for other filers, covering membership fees, initiation costs, and personal training at qualifying fitness facilities. Expenses like spa services, food, childcare, or employer-paid costs are excluded, and the deduction does not apply if the employer covers the expense. The bill defines a "health club" as an establishment where at least 40% of space is dedicated to fitness services, aligning with existing state regulations. It takes effect immediately for taxable years starting after enactment.
This bill creates the "New Jersey Family Homelessness Fund" allowing taxpayers to voluntarily add contributions to their state income tax refunds or enclose payments. It directly affects families facing homelessness in New Jersey by funding services through Family Promise affiliates. Key provisions require the state to annually allocate all collected funds to Family Promise's local affiliates for homelessness prevention, emergency shelter, and housing stabilization programs. Taxpayers can choose to contribute via their tax return, with no mandatory fees or tax increases.
This bill creates tax credits for businesses constructing new buildings in New Jersey that meet specific environmental standards. It provides credits against corporation business tax and gross income tax for buildings certified at LEED Silver, Gold, or Platinum levels (based on energy efficiency, water use, and sustainable materials). Eligible buildings include large residential complexes (10,000+ sq ft) or commercial/industrial structures, with credit amounts tied to building size and certification level. To claim the credit, businesses must obtain certification from the Environmental Protection Commissioner and comply with annual reporting requirements, subject to a $10 million annual cap on total credits.
This bill changes New Jersey's tax code to exclude certain retirement savings contributions from taxable gross income. It directly affects New Jersey residents who contribute to qualifying retirement plans, such as 401(k)s or IRAs, by reducing their taxable income for state tax purposes. The key provision amends the definition of "gross income" to specify that contributions to these plans are not counted toward taxable earnings. As a result, taxpayers would pay less state income tax on the amounts they save for retirement through these qualified plans. The bill is currently in the introduction stage (2026-01-13) and has not yet been voted on.
This bill creates tax credits for New Jersey businesses that employ members of the New Jersey National Guard or the reserve component of the U.S. Armed Forces. Employers receive a $1,500 credit per qualified service member who has not completed a deployment or activation, or $2,500 for those who have completed or returned from deployment. The credit applies to both the corporation business tax and the gross income tax, with specific rules for partnerships and S corporations. It directly benefits employers hiring military reservists, aiming to incentivize their employment through targeted tax relief.
