Provides corporation business tax credits and gross income tax credits to small business employers and farm employers for increases in certain mandatory employer contributions.

This bill provides tax credits to New Jersey small businesses (fewer than 25 employees and under $1 million annual revenue) and farm employers (hiring farm labor) for increased mandatory insurance costs. The credit equals the difference between current-year costs for workers' compensation, disability, and unemployment insurance versus the previous year's costs for the same employees and wages. Credits are capped at $12,000 annually per business and available only for tax years 2020-2029, with unused portions carryable for up to four years. Businesses must apply through the Division of Taxation, and credits reduce corporate business tax or gross income tax liability.