Budget & Taxes (Business Taxes)

in committee · New Jersey · General Assembly Jan 13, 2026

A 276: Reduces gross income tax rates by ten percent over three years.

This bill reduces New Jersey's individual gross income tax rates by 10% across all income brackets, phased over three years. It directly affects all New Jersey individual taxpayers who file income tax returns (excluding charitable trusts and pension-related trusts). The key mechanism lowers the percentage rates applied to each income tier, as shown in the amended tax tables, without changing income thresholds. The reduction applies uniformly to all taxable income levels, starting from the effective date of the bill.

Topics ✓ Budget & TaxesSupports Budget & TaxesReduces tax rates uniformly across all income brackets, providing broad tax relief which aligns with fiscal responsibility and middle-income tax relief indicators.95% confidence

Sub-Topics Business Taxes Income Tax Pensions

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in committee · New Jersey · General Assembly Jan 13, 2026

A 2660: Reduces CBT rate; retroactive to January 1, 2020.

This bill reduces New Jersey's Corporation Business Tax (CBT) rate for most corporations to 2.5% of taxable net income, effective retroactively from January 1, 2020. It directly affects corporations operating in New Jersey that pay the CBT, including S corporations and professional entities, by lowering their tax burden on net income. The key mechanism adjusts the tax rate calculation under Section 5 of the existing law, replacing higher historical rates (like 9% for older periods) with the new 2.5% rate for reports covering periods ending after December 31, 2019. This change will result in reduced tax payments or refunds for affected businesses for the 2020-2023 tax years.

Topics ✓ Budget & TaxesSupports Budget & TaxesReduces corporate tax rate from 9% to 2.5%, lowering tax burden for corporations. Direct tax policy change aligning with fiscal responsibility for businesses.95% confidence

Sub-Topics Business Taxes

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in committee · New Jersey · Senate Feb 5, 2026

S 3311: Sets flat gross income tax rate at 5.9 percent tax for all taxable income over $37,500 or $75,000, depending on filing status; exempts taxpayers with less income from gross income tax.

This bill (S 3311) replaces New Jersey's current progressive income tax system with a flat 5.9% tax rate on income above specific thresholds. It directly affects individual taxpayers and families filing jointly whose income exceeds $37,500 (single filers) or $75,000 (joint filers). The bill exempts all income below these thresholds from state income tax, meaning lower earners pay nothing. This would simplify the tax structure by eliminating the current multi-rate system for most taxpayers.

Topics ✓ Budget & TaxesSupports Budget & TaxesExempts income below thresholds, providing tax relief to lower/middle earners and simplifies tax structure per bill's explicit language.95% confidence

Sub-Topics Business Taxes Income Tax Sales Tax

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died · New Jersey · General Assembly Jan 13, 2026

A 801: Appropriates $34 million from constitutionally dedicated CBT revenues to State Agriculture Development Committee for county planning incentive grants for farmland preservation purposes.

This bill appropriates $34 million from constitutionally protected business tax revenues to fund farmland preservation grants. It provides counties with planning incentive grants covering up to 80% of the cost to acquire development easements on farmland, directly affecting eligible counties like Burlington, Gloucester, and Somerset. The funds are distributed through the State Agriculture Development Committee to support local efforts in preserving agricultural land. The grant amounts vary by county, with some receiving up to $8.5 million total. This policy change enables counties to protect farmland through permanent easements without requiring new tax revenue.

Topics ✓ Budget & TaxesSupports Budget & TaxesAppropriates existing constitutionally protected tax revenues to fund farmland preservation grants, directly advancing budget allocation for agricultural programs.90% confidence ✓ EnvironmentSupports EnvironmentFunds farmland preservation via development easements, conserving agricultural land as natural resource.95% confidence

Sub-Topics Business Taxes Revenue Conservation

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in committee · New Jersey · Senate Feb 9, 2026

S 3425: Requires development of online tax training for small and micro-businesses.

This bill requires New Jersey's Division of Taxation to create and maintain a free, online training program specifically for small and micro-businesses. The program will teach how to file and pay state taxes, including corporation business tax, gross income tax, and sales tax. It must be available on the Division's website and updated as tax laws change. The bill directly affects small and micro-business owners who need guidance on complying with New Jersey's tax filing requirements.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates free tax compliance training for small businesses, promoting fiscal responsibility in tax administration without altering tax rates or funding.90% confidence

Sub-Topics Business Taxes Income Tax Sales Tax

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in committee · New Jersey · Senate Jan 13, 2026

S 1667: Provides corporation business tax credits and gross income tax credits to businesses employing and retaining certain neurodiverse individuals.

This New Jersey bill (S 1667) provides tax credits to businesses that hire and retain neurodiverse employees in qualifying STEM/AI roles. Businesses receive credits of $7,000-$9,000 per full-time employee (increasing with consecutive years of employment) or $4,500 for part-time employees, subject to a $10 million annual cap. To qualify, employees must work in approved STEM/AI fields at minimum wage and be certified as neurodiverse under state guidelines. The credits reduce corporate business tax liability, with unused credits potentially carried forward for up to seven years.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides corporate tax credits reducing business tax liability, aligning with tax relief support for budget/tax policies.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentProvides tax incentives for hiring neurodiverse workers in STEM roles at minimum wage, advancing employment opportunities and workplace inclusion for a targeted group.90% confidence ✓ TechnologySupports TechnologyBill provides tax credits specifically for hiring neurodiverse employees in STEM/AI roles, directly funding technology sector employment and promoting diversity in tech fields.90% confidence

Sub-Topics Business Taxes Income Tax Minimum Wage Artificial Intelligence

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in committee · New Jersey · Senate Feb 19, 2026

S 1204: "New Jersey Battlefield to Boardroom Act"; provides corporation business tax credits and gross income tax credits for qualified wages of certain veterans.*

New Jersey's S 1204 creates tax credits for businesses hiring veterans. Companies can claim up to $1,200 per qualified veteran annually (10% of their wages) if they hire at least 25% veterans among new employees, maintain 50% retention of previously hired veterans, and provide workplace veteran support services. The credit applies to wages paid between 2020-2024 for both corporation business tax and gross income tax. It directly affects New Jersey businesses and veterans who are honorably discharged post-1965 with proof of service (e.g., DD-214 form). The bill does not cover wages already used for other state tax credits or grants.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides business tax credits (reducing corporation/gross income tax liability) to incentivize veteran hiring, directly impacting tax policy.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentProvides tax credits for businesses hiring veterans, directly expanding employment opportunities and supporting workforce transition for veterans.95% confidence ✓ VeteransSupports VeteransProvides tax credits to businesses hiring veterans, directly supporting veteran employment through financial incentives for employers.95% confidence

Sub-Topics Business Taxes Income Tax Veteran Education Veteran Employment Veteran Housing

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in committee · New Jersey · Senate Jan 13, 2026

S 860: Provides a corporation business tax credit for investment in certain manufacturing equipment, facility renovation, modernization, and expansion.

S 860 provides New Jersey corporations a 20% tax credit for costs of new manufacturing equipment and facility renovations, modernizations, or expansions at eligible manufacturing sites within the state. It directly affects businesses operating in New Jersey that qualify as "manufacturing facilities" (defined as locations where over 50% of property is manufacturing equipment). The credit applies to equipment used in producing taxable goods and facility upgrades, with unused credits carryable forward for up to seven years. The bill excludes these investments from other tax credits like the New Jobs Investment Credit and limits the total credit to 50% of tax liability.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides 20% tax credit for manufacturing investments, reducing corporate tax burden to stimulate business growth and economic development.90% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives

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in committee · New Jersey · Senate Jun 8, 2026

S 2215: Creates pilot program to provide corporation business tax and gross income tax credits for value of certain fruit and vegetable donations made by commercial farm operators.

S 2215 creates a three-year pilot program in New Jersey that allows commercial farms to claim tax credits for donating edible fruits and vegetables to qualified charities. Farms can receive a credit equal to 50% of the wholesale value of their donations (capped at $5,000 per donation period), provided they obtain written verification from the charity detailing the donation. The program is limited to $100,000 in total tax credits per fiscal year and requires farms to submit charity verification forms to the Department of Agriculture for approval. This directly affects commercial farm operators in New Jersey who donate surplus produce to eligible charities, offering a financial incentive to reduce food waste while supporting community food programs.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides tax credits (50% of donation value) to farms, reducing their tax burden and incentivizing charitable donations - direct tax relief aligned with support indicators.95% confidence

Sub-Topics Business Taxes Income Tax

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in committee · New Jersey · Senate Jan 13, 2026

S 571: Provides credits under corporation business tax and gross income tax for qualified wages of certain disabled veterans.

This bill provides New Jersey businesses with tax credits for hiring disabled veterans. Specifically, businesses receive a 15% credit (capped at $1,800 per veteran) on qualified wages paid to disabled veterans with a 30%+ VA disability rating who are hired after the bill's enactment and employed for at least 185 business days. The credit applies to wages paid between 2023 and 2026 for both corporation business tax and individual gross income tax. Businesses cannot claim this credit if the same wages are used for other state tax credits, and they must avoid displacing other employees solely to access the benefit.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credits (15% of wages) to businesses for hiring disabled veterans, reducing tax liability under state tax codes, aligning with tax relief support.95% confidence ✓ Labor & EmploymentSupports Labor & EmploymentProvides tax incentives for hiring disabled veterans, directly expanding employment opportunities and supporting workforce inclusion for a protected group.90% confidence ✓ VeteransSupports VeteransProvides tax credits for hiring disabled veterans, directly supporting veteran employment and financial stability through business incentives.95% confidence

Sub-Topics Business Taxes Income Tax Veteran Education Veteran Employment Veteran Healthcare

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