This bill allows small New Jersey businesses with fewer than 20 employees to claim tax credits when they pay for their workers' health insurance premiums. Employers get up to $250 per employee for single coverage or $500 for family coverage if they pay 100% of the premium, with proportional credits for partial payments (50-99%). The health plan must meet federal Affordable Care Act standards for essential benefits. Credits cannot exceed the actual premiums paid and expire after the tax year - no carryover to future years. It applies to both corporate business tax and gross income tax credits.
This bill links changes to New Jersey's petroleum products tax rate to concurrent increases in other state taxes. If the legislature raises sales or use tax rates, the bill requires a corresponding reduction in the petroleum products gross receipts tax rate, calculated based on the revenue impact of the new sales tax. The revenues generated from the increased sales tax rates must be dedicated exclusively to the state's "Transportation Trust Fund Account." It directly affects petroleum companies (refiners/distributors) and state transportation funding, creating a mechanism to offset tax increases on consumers with lower taxes on fuel. The bill does not change current tax rates but establishes a conditional adjustment process tied to legislative action.
S 3214 creates the "New Jersey Earn and Learn Program" to provide tax credits for employers offering structured apprenticeships and paid internships that lead to permanent jobs. Employers receive a $3,000 tax credit per enrolled individual (apprentice or intern) for the first year, with an additional $1,000 available for small businesses, for enrollees from underrepresented groups, or if the enrollee secures full-time employment after completing the program. The program requires participants to maintain full-time employment for six months post-program and limits participation to three years per individual. These tax credits reduce the employer's corporation business tax or gross income tax.
This bill provides New Jersey corporations with a tax credit equal to 15% of wages paid to qualified community health workers (up to $2,500 per worker) for both corporation business tax and gross income tax. To qualify, employers must apply to the Commissioner of Health for certification that an employee meets specific criteria: working at least 10 hours weekly, completing a state-approved training program, and not being an independent contractor. The credit is limited to 50% of tax liability per year and may be carried forward if unused. It directly affects New Jersey businesses hiring community health workers - professionals who connect underserved communities to healthcare resources and educate providers about access barriers.
This bill changes New Jersey tax rules for businesses regarding punitive damages. It prevents corporations and business owners from deducting punitive damages paid in legal settlements or judgments as a business expense. Instead, the amount paid (or covered by insurance) must be included in the business's taxable income. The law applies to both the corporation business tax and gross income tax for taxable years starting after its effective date.
This bill creates tax credits for New Jersey restaurants, bars, breweries, wineries, and food manufacturers that purchase local ingredients. Businesses can claim a 10% credit on qualifying purchases of NJ-grown fruits, vegetables, or other ingredients (capped at $10,000 per year), provided they submit receipts, proof of local origin, and menus or documentation showing the ingredients are used in food/beverage preparation. The credit applies against corporate business tax liability, cannot exceed 50% of the tax due, and may be carried forward for up to 20 years if unused. It directly supports local farms and food producers by incentivizing New Jersey-based sourcing for food and drink establishments.
This bill establishes a new Artificial Intelligence Apprenticeship Program within New Jersey's Department of Labor to create training opportunities in AI technology, data analytics, and automation. It also creates a tax credit for employers hiring qualified AI apprentices, allowing them to claim up to $5,000 per apprentice (half of wages paid, capped at $5,000) for taxable years beginning in 2026. To qualify, employers must hire unskilled or semi-skilled apprentices for at least 20 weeks in a program meeting state and federal standards, covering roles like generative AI development. The program will partner with AI companies and educational institutions to design training pathways. The tax credit applies to both corporate business tax and gross income tax.
This bill creates a new "Garden State Corporation" status for New Jersey manufacturing companies. To qualify, businesses must operate primarily in New Jersey, elect half their board members from employees (with equal voting rights), and include specific terms like "Garden State" in their name. Qualifying corporations receive significant tax credits: up to 60% off state corporate tax for the first five years if also certified as a benefit corporation, decreasing to 30% over nine years. The bill directly affects manufacturers choosing this status and aims to incentivize local job retention and worker representation.
This bill provides tax credits to businesses that purchase hydrogen fuel cell vehicles for use in their operations. Specifically, it allows a 25% credit (up to $15,000) for 2023 purchases, decreasing to 15% ($9,000) in 2024 and 8% ($5,000) in 2025. To qualify, businesses must obtain certification from the Environmental Protection Commissioner confirming the vehicle meets the definition of a hydrogen fuel cell vehicle (powered by hydrogen cells converting chemical energy to electricity). The credits apply against corporation business tax and gross income tax, with limits preventing credits from exceeding 50% of tax liability. The bill is currently pending in the Senate Environment and Energy Committee.
New Jersey's S 2195 provides tax credits to businesses that hire apprentices in U.S. Department of Labor (DOL)-registered programs. Businesses can claim a $1,000 base credit per apprentice per tax period, with an additional $2,000 for veterans, displaced workers, those from underrepresented groups, or individuals previously incarcerated. To qualify, apprentices must be employed for at least seven months during the tax period, and credits cannot exceed four tax periods per apprentice. The bill prohibits using these credits to displace existing workers or undermine collective bargaining agreements.
