Budget & Taxes (Business Taxes)

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

A 2993: Allows New Jersey S corporations to elect to transfer corporation business tax credits to shareholders to apply against the shareholders' gross income tax liability.

This bill allows New Jersey S corporations to elect to pass certain business tax credits directly to their shareholders. Instead of using these credits to reduce the corporation's own tax bill, the credits are transferred to shareholders to apply against their personal income tax liabilities. The credits include incentives like research, job creation, and urban development programs. Shareholders can use these transferred credits to lower their individual tax payments, but the amount applied is limited to 50% of their tax liability related to the S corporation's income.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill allows S corporation tax credits to reduce shareholders' personal income tax, providing tax relief tied to business incentives like job creation and urban development.85% confidence

Sub-Topics Business Taxes Income Tax

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in committee · New Jersey · General Assembly Feb 19, 2026

A 4425: Provides 50 percent sales and use tax exemption for certain businesses in impacted municipalities during ongoing public highway project.

This bill provides a 50% sales tax exemption for small retail businesses operating in municipalities affected by ongoing public highway projects. It applies to businesses with a fixed location offering goods or services (like retail stores or charter boat services) during the "relief period" - the time between when a highway project starts and ends. Businesses must apply to the Tax Division Director for approval, verifying their location within an impacted area. The exemption automatically ends 30 days after the Transportation Commissioner notifies the Tax Division that the highway project is complete.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides 50% sales tax exemption for small businesses in highway-impacted areas, reducing tax burden during infrastructure projects.95% confidence ✓ TransportationSupports TransportationProvides tax relief to businesses during highway construction, supporting infrastructure project implementation and mitigating economic disruption.85% confidence

Sub-Topics Business Taxes Sales Tax Tax Incentives Roads & Highways

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

A 2703: Eliminates the corporate transit fee.

This bill repeals a 2.5% surtax known as the "Corporate Transit Fee" that applied to corporations with New Jersey taxable income exceeding $10 million during tax periods starting in 2024-2028. It directly affects large corporations paying the Corporate Business Tax (CBT) in New Jersey, eliminating their requirement to pay this additional fee for future tax periods. The fee, which generated revenue for NJ Transit operations and capital projects starting in 2026, is now removed from law. The repeal takes effect immediately upon enactment, applying to all tax periods beginning after the bill’s passage.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill eliminates a corporate tax funding NJ Transit operations, directly defunding public transit programs by removing a dedicated revenue source.95% confidence ✗ TransportationOpposes TransportationRepeals fee funding NJ Transit operations/capital projects, removing dedicated revenue source for transportation infrastructure and services.90% confidence

Sub-Topics Business Taxes

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

A 3620: Provides corporation business tax credits and gross income tax credits to farm employers for providing lodging or transportation benefits.

This New Jersey bill (A 3620) provides tax credits to farm employers who offer lodging or transportation benefits to their employees. Farm employers can claim up to $250 per employee for qualifying lodging (must be on-site, required for employment, and provided for at least six weeks) and up to $500 per employee for transportation benefits (reimbursing actual costs like transit or fuel). The credits apply to both corporation business tax and gross income tax, but cannot exceed 50% of the employer’s tax liability. It directly affects New Jersey farm businesses that provide these specific employee benefits.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides tax credits (relief) to farm employers, directly impacting taxation policy as a form of tax relief.90% confidence ✓ Labor & EmploymentSupports Labor & EmploymentBill incentivizes farm employers to provide lodging/transportation benefits via tax credits, expanding employee benefits as per Labor & Employment indicators.95% confidence

Sub-Topics Business Taxes Income Tax

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

A 808: Provides a STEM graduate retention tax credit for certain employers who pay certain employees' education loan debt.

This bill creates a tax credit for New Jersey employers who pay up to $5,000 annually toward the student loans of qualifying STEM graduates. It directly affects employers in the state who hire full-time employees with STEM degrees from New Jersey public colleges, who live and work in New Jersey, and have outstanding, non-defaulted student loans. Employers can claim this credit against corporation business tax or gross income tax, with eligibility certified by the Higher Education Student Assistance Authority. The credit applies to loans paid on or after the date the bill takes effect (January 1 following enactment).

Topics ✓ Budget & TaxesSupports Budget & TaxesBill creates a tax credit (reducing employer tax liability) for STEM hiring, directly providing tax relief per Budget & Taxes indicators.95% confidence ✓ EducationSupports EducationBill provides tax credit to NJ employers for paying STEM graduates' student loans, directly supporting higher education retention and reducing debt burden for graduates from NJ public colleges.90% confidence

Sub-Topics Business Taxes Income Tax Tax Credits

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

A 2644: Repeals surtax imposed on certain businesses.

This bill repeals a surtax on non-public utility businesses with over $1 million in taxable net income. The surtax, which was set at 2.5% for 2018 and 1.5% for 2020-2021, is eliminated for all tax periods beginning January 1, 2019. Affected businesses will no longer owe this additional tax. The repeal takes effect immediately upon enactment.

Topics ✗ Budget & TaxesOpposes Budget & TaxesRepeals surtax on businesses, reducing tax revenue for state budget. Explicit tax cut aligns with weakening tax system.90% confidence

Sub-Topics Business Taxes

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

A 234: Provides a corporation business tax credit for investment in certain manufacturing equipment, facility renovation, modernization, and expansion.

This bill creates a 20% tax credit against New Jersey's corporate business tax for investments in qualifying manufacturing equipment and facility improvements (including renovation, modernization, or expansion) at manufacturing facilities located in the state. The credit applies to costs for equipment using advanced technology to produce tangible goods and facilities where over half the property is manufacturing equipment. Unused credits can be carried forward for up to seven years. The bill ensures these investments cannot also claim other existing tax credits like the New Jobs Investment Tax Credit.

Topics ✗ Budget & TaxesOpposes Budget & TaxesCreates corporate tax credit, aligning with tax breaks for wealthy entities per indicators.90% confidence

Sub-Topics Business Taxes Tax Credits Tax Incentives Tags Economic Development

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in committee · New Jersey · General Assembly Feb 19, 2026

A 4116: Establishes a manufacturing reinvestment account program to incentivize capital investment and workforce training in New Jersey with income tax rate reductions, deferrals, and accelerated deductions.

This bill creates a tax incentive program for small New Jersey manufacturers (employing ≤50 people) to invest in equipment and workforce training. It allows businesses to deduct up to $100,000 annually from their income tax for contributions to a special "manufacturing reinvestment account" held at a New Jersey financial institution. Funds in the account can be used for qualifying expenses like machinery/equipment purchases or New Jersey-based worker training, with unused funds earning tax-advantaged treatment until distributed. The program applies for five consecutive tax years, after which remaining balances are taxed normally.

Topics ✓ Budget & TaxesSupports Budget & TaxesBill provides tax deductions/deferrals for small manufacturers, reducing business tax liability to incentivize investment and training, aligning with fiscal policy support.92% confidence ✓ Labor & EmploymentSupports Labor & EmploymentBill explicitly requires employer-funded worker training as a qualifying use of tax incentives, directly advancing workforce development and employment standards.90% confidence

Sub-Topics Business Taxes Income Tax Tax Incentives Workforce Development

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

A 3431: "New Jersey Loves New Jersey Farmers Act"; provides corporation business tax credits and gross income tax credits to commercial farm operators for price loss.

This bill provides tax credits to New Jersey commercial farm operators who experience price losses on their products. It allows eligible farms to claim credits against corporation business tax or gross income tax based on a certification of price loss from the State Agriculture Secretary. Credits are limited to 50% of tax liability and can be carried forward for up to seven years if unused. The bill also permits taxpayers to transfer unused credits to other businesses, subject to specific rules.

Topics ✓ Budget & TaxesSupports Budget & TaxesProvides tax credits to farmers, reducing their tax liability and offering relief, aligning with fiscal support for agricultural sector.95% confidence

Sub-Topics Business Taxes Income Tax Tags Agriculture

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

A 860: Temporarily lowers corporation business tax rate for five years and repeals corporation business surtax.

Bill A 860 temporarily lowers New Jersey's corporate tax rate from 9% to 7.5% for five tax years (starting in 2027) and repeals the separate 2.5% corporation business surtax. It directly affects most corporations and partnerships with annual net income under $100,000, reducing their tax burden by eliminating the surtax and lowering the base rate. The bill applies to tax years beginning January 1, 2027, through 2031, and is pending before the Assembly Commerce Committee. This is a concrete tax rate change, not a procedural measure, affecting business tax obligations.

Topics ✗ Budget & TaxesOpposes Budget & TaxesBill reduces corporate tax rates and repeals surtax, creating tax breaks for businesses, aligning with 'oppose' indicators of tax cuts for entities.90% confidence

Sub-Topics Business Taxes

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