Provides corporation business tax and gross income tax credits for employing immediate family members of members of the Armed Forces of the United States who were killed in action.

This New Jersey bill (S 499) provides tax credits to employers who hire immediate family members (spouses, children, or parents) of U.S. military personnel killed in action. Employers receive a credit equal to 10% of qualified wages paid to these new hires, capped at $1,200 per family member per tax year, for full-time employment lasting at least nine consecutive months. The credits are nonrefundable but can be carried forward for up to 20 years, and employers cannot claim both this credit and other state employment tax incentives for the same wages. The bill applies to corporation business tax and gross income tax, effective for tax years beginning after the bill's enactment date.