Budget & Taxes (Business Taxes) in New Jersey

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

A 3006: Establishes net operating loss carryback deduction under corporation business tax.

This New Jersey bill (A 3006) would allow corporations to carry back net operating losses to previous tax years, enabling them to claim refunds for taxes paid in those earlier years. It directly affects corporations subject to New Jersey's Corporation Business Tax that have incurred losses, particularly those that might otherwise see reduced tax liability or refunds. The key mechanism establishes a formal "net operating loss carryback deduction" under the state tax code, letting businesses offset prior-year tax payments with current-year losses. The bill is currently pending in the Assembly Commerce and Economic Development Committee (introduced January 13, 2026) and would change how corporations apply tax losses under state law.

Topics ✗ Budget & Taxes

Sub-Topics Business Taxes

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

A 3913: Provides tax credits for hiring certain military spouses.

New Jersey's bill A 3913 creates a tax credit program to incentivize employers to hire military spouses affected by frequent relocations. Employers who hire nonresident military spouses (spouses of active-duty service members transferred to New Jersey, legally domiciled here, or on permanent change-of-station) can claim a tax credit equal to 15% of wages for 120-400 hours worked or 25% for over 400 hours annually, capped at $2,400 per employee. The credit reduces the employer's corporation business tax or gross income tax liability. This policy directly supports military spouses whose careers are disrupted by service-related moves, aiming to improve their employment stability.

Topics ✓ Budget & Taxes ✓ Labor & Employment

Sub-Topics Business Taxes Income Tax Tax Credits

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

A 643: Allows tax credits for employing members of NJ National Guard and members of reserve component of US Armed Forces.

This bill creates tax credits for New Jersey businesses that employ members of the New Jersey National Guard or reserve components of the U.S. Armed Forces. Employers receive a $1,500 credit per service member not on deployment, or $2,500 for those who have completed deployment or returned from activation. The credits apply to both the corporation business tax and gross income tax, with specific rules for partnerships and S corporations. It directly affects New Jersey businesses hiring these service members, providing financial incentives based on their deployment status.

Topics ✓ Budget & Taxes ✓ Veterans

Sub-Topics Business Taxes Income Tax National Guard & Reserve Veteran Employment

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

A 3295: Provides CBT and gross income tax credit for certain capital investments in film production facility.

This bill proposes a 30% tax credit against New Jersey's corporation business tax and gross income tax for businesses making qualifying capital investments in film production facilities. It directly affects film production companies that invest at least $30 million in facilities meeting specific size requirements (50,000+ square feet with one sound stage) during the 2020-2028 period. Key provisions include allowing tax credits to be transferred to other businesses for private financial assistance (at minimum 75% of value), capping annual credits at $100 million total, and requiring facility approval by the New Jersey Economic Development Authority. The credit applies only to new investments meeting the size and cost thresholds, not to existing facilities or other tax benefits.

Topics ✓ Budget & Taxes

Sub-Topics Business Taxes Income Tax Tax Credits

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

A 3193: Eliminates $375 minimum Corporation Business Tax on New Jersey S corporations with New Jersey gross receipts of less than $100,000.

This bill eliminates a $375 minimum tax for New Jersey S corporations with New Jersey gross receipts under $100,000 annually. It directly affects small New Jersey S corporations (pass-through business entities) that generate less than $100,000 in total revenue within the state. The key change removes the minimum tax obligation, meaning these businesses will pay no tax if their calculated tax liability is below $375, while other tax rules remain unchanged. This applies to S corporations with qualifying low gross receipts, not to other business types.

Topics ✓ Budget & Taxes

Sub-Topics Business Taxes

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

A 3846: "Road to Tax Relief Act"; provides credit for sales tax remittances for businesses impacted by public highway projects, including Interstate 80 project; provides tax credits for certain businesses and persons impacted by same projects; makes appropriation.

This bill provides tax relief to small retail businesses (50 or fewer full-time employees) located in areas affected by public highway construction projects, such as the I-80 project. It creates two main credits: (1) a refundable credit against sales tax remittances for businesses in impacted zones during construction, and (2) a credit against business privilege tax based on verified revenue loss. Businesses must apply for approval, document their impact, and claim credits during the project’s active "relief period" (from start to completion). The credits are limited to 50% of tax liability and expire after seven years if unused.

Topics ✓ Budget & Taxes ✓ Transportation

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

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

A 1867: Provides corporation business tax and gross income tax credits for purchase and installation of electric vehicle charging stations and for commercial zero emission vehicle fleet conversions.

This bill provides tax credits for businesses purchasing electric vehicle (EV) charging stations and converting commercial fleets to zero-emission vehicles. It allows a 50% credit (capped at $1,000 per charging station) for station purchases/installation and up to $100,000 for qualifying zero-emission vehicles based on weight (e.g., $25,000 for under 14,000 lbs). Businesses must apply for certification from the Environmental Protection Commissioner, including proof of purchase and installation, within 90 days. The credits apply to both corporation business tax and gross income tax, with unused credits carryable for up to seven years. The policy directly affects commercial entities investing in EV infrastructure and fleet transitions.

Topics ✓ Budget & Taxes ✓ Energy ✓ Environment ✓ Transportation

Sub-Topics Business Taxes Income Tax Tax Incentives Electric Vehicles Electric Vehicles

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

A 1335: Imposes 30 percent electric public utility windfall surtax on certain taxpayers with allocated taxable net income in excess of 20 percent above five-year average income under CBT.

This bill imposes a 30% surtax on electric public utilities in New Jersey with taxable income exceeding 20% above their five-year average. It directly affects electric utilities that transmit and distribute electricity within the state, requiring them to pay this additional tax on their "windfall income" (the portion of income above the 20% threshold). The surtax is paid in addition to regular corporate taxes, with no credits allowed except for payment-related adjustments. All revenue collected, excluding funds for open space/farmland preservation, must be distributed proportionally to the utility’s ratepayers via the Board of Public Utilities.

Topics ✓ Budget & Taxes

Sub-Topics Business Taxes

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

A 3075: Provides corporation business tax credits and gross income tax credits to businesses employing and retaining certain neurodiverse individuals.

This bill provides tax credits to New Jersey businesses that hire and retain neurodiverse employees in STEM/AI roles. Businesses receive credits of up to $9,000 per full-time employee (or $4,500 for part-time) annually, increasing with each consecutive year of employment. To qualify, employees must earn at least minimum wage, work in eligible STEM/AI positions (not as contractors), and be certified by the Division of Vocational Rehabilitation as neurodiverse. The credits reduce corporate and gross income tax liability, capped at 50% of tax owed, and require employers to submit certification applications for eligible workers.

Topics ✓ Budget & Taxes ✓ Labor & Employment

Sub-Topics Business Taxes Income Tax Minimum Wage Professional Licensing

in committee · New Jersey · General Assembly Feb 12, 2026

A 4021: Provides CBT and gross income tax credits for certain energy infrastructure upgrades.

This bill provides tax credits to electricity generators (companies operating power plants) who increase their energy output by at least 5% through qualifying infrastructure upgrades. Generators can claim credits covering up to 75% of upgrade costs or $5 million per company, whichever is lower, to offset Corporate Business Tax and gross income tax. To qualify, generators must apply for certification showing the 5% production increase, documenting specific upgrades like efficiency improvements, grid technology, or renewable energy integration. The total credits across all generators are capped at $100 million statewide, and unused credits may be carried forward for up to four tax years. The program requires documentation of actual energy production changes and prohibits double-counting with other tax benefits.

Topics ✓ Budget & Taxes ✓ Energy ✓ Environment

Sub-Topics Business Taxes Income Tax Tax Incentives Renewable Energy

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