This bill creates a temporary tax credit for New Jersey employers who build or improve facilities to provide child care for their employees' children. Employers can claim a 50% credit (up to $50,000) against corporation business tax or gross income tax for eligible property expenses, effective for three years after the bill's enactment. To qualify, employers must commit to using the property as a child care center for employees' children for 60 consecutive months and submit documentation to the state tax authority. If the property stops serving this purpose (except in cases of casualty or transfer), employers must repay the credit plus interest. The credit directly affects businesses establishing on-site or contracted child care centers for their workforce.
S 3582 would establish a scholarship program for family members and legal guardians of New Jersey military personnel who died while on active duty. The program, initially funded by a $100,000 state appropriation, would provide undergraduate scholarships at New Jersey colleges and universities, with awards capped at the average tuition cost for four-year public institutions. The bill also creates two new funding sources: voluntary taxpayer contributions through state income tax returns and a $2 annual fee on personalized license plates.
This bill provides tax credits to New Jersey businesses that install electric vehicle (EV) charging stations for use in their operations. Businesses can claim a credit equal to 25% (up to $500), 15% (up to $300), or 8% (up to $150) of the cost for stations installed in 2014, 2015, or 2016, respectively. To qualify, businesses must obtain certification from the Environmental Protection Commissioner confirming the station meets technical standards for level 2 or level 3 charging. The credit applies against corporation business tax or gross income tax and requires proof of installation and station specifications.
This bill allows New Jersey resident taxpayers to deduct the full cost of purchasing and installing qualifying whole-house backup power systems (either natural gas/propane generators or home battery systems with at least 3 kilowatt-hours capacity) from their gross income. It directly affects homeowners who own a primary residence in New Jersey and install these systems to provide backup electricity during power outages. The deduction covers both the purchase and installation costs, provided the systems meet state and local installation, inspection, and permitting requirements. The bill defines "home backup battery systems" to include common technologies like lithium-ion and lead-acid batteries, and "whole house generators" as permanently connected systems that only activate during outages.
This bill (A 232) creates a 10% tax credit against New Jersey's gross income tax for businesses that spend money on research and development (R&D) activities conducted within New Jersey. It directly affects companies subject to New Jersey's gross income tax that incur qualified R&D expenses or make basic research payments, including those that previously couldn't claim the federal R&D credit. The credit is calculated similarly to the federal version but only applies to R&D done in New Jersey, and it cannot be used for expenses already covered by other tax benefits. Unused credits can be carried forward for up to seven years. The goal is to incentivize in-state R&D investment to support technological and economic growth.
This bill creates a New Jersey tax credit for farmers to smooth their tax payments by averaging farming income over four years. It allows farmers to calculate their tax using a four-year average of farming income (current year plus the previous three years, adjusting for losses or years without farming), then compares that to the tax calculated without averaging. The credit equals the difference between these two tax amounts, but cannot exceed $5,000 annually. This helps New Jersey farmers manage financial volatility from seasonal factors like weather or market fluctuations, without changing tax rates or creating new obligations.
This bill revises New Jersey's tax brackets for married couples filing jointly (and similar taxpayers like heads of household), raising the threshold for the lowest tax rate from $20,000 to $40,000 for 2020+ tax years. It directly affects married couples filing jointly by reducing their tax burden on income between $20,000-$40,000 annually, eliminating a previously higher tax rate that disproportionately impacted these filers. The key change updates Section 54A:2-1, subsection (a)(7), shifting the first tax bracket to apply to income under $40,000 (previously $20,000) and adjusting subsequent rates accordingly. This policy change specifically targets the "marriage penalty" where joint filers paid more tax than separate filers at certain income levels.
This bill exempts gains from the sale of certain investment properties from New Jersey's corporation business tax and gross income tax. It applies to real estate purchased during a three-year window starting from enactment (ending three years later), provided the property was held for over two years and was not occupied by the owner (excluding vacant land but including subdivided land actively for sale). Eligible properties must be non-residential investment holdings, not vacant or idle land, and the exclusion requires a minimum two-year holding period. The bill aims to incentivize real estate investment by reducing tax liability on qualifying sales.
This bill creates a New Jersey gross income tax credit for active members of volunteer fire departments, first aid squads, and rescue organizations who use personal vehicles for emergency duties. Eligible members receive a credit based on miles driven for emergency response, calculated using the IRS standard mileage rate (capped at $500 per individual or $1,000 for married couples filing jointly). To qualify, members must maintain active status, complete required service hours (400+ hours or attendance thresholds), and provide documentation through their organization. The credit directly reimburses volunteers for vehicle-related costs incurred while serving their communities.
This bill creates the "NJ Highlands Tax Fairness Fund" to allow residents in eight specific municipalities (Bloomsbury, Byram, Califon, Glen Gardner, Kinnelon, Lebanon, Ringwood, and West Milford) to redirect 10% of their New Jersey gross income tax - after credits for taxes paid to other jurisdictions - to their local government. Funds collected through this designation must be used exclusively to reduce property tax levies for residents in those municipalities. The program ensures these funds are distributed proportionally based on contributions and count as additional state aid, separate from other funding streams. It applies only to municipalities where 95% or more of land lies within the Highlands preservation area.
