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.
This bill allows New Jersey homeowners to deduct up to $45,000 annually from their gross income for removing specific contaminants from their primary residence. It covers lead-based paint, asbestos, lead pipes, and water treatment for sodium/chloride contamination (caused by road salt) in private wells. Homeowners must pay certified contractors for these removals, and the deduction applies regardless of income. The bill expires December 31, 2027, and retroactively covers eligible expenses since 2018.
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.
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.
This bill prevents certain New Jersey school districts from facing state aid reductions during the 2019-2025 school years. It specifically exempts regional school districts and high-need districts (SDA districts) meeting certain criteria - such as having above-average local tax rates, spending below adequacy levels, or meeting administrative cost benchmarks - from annual aid cuts. Districts with a negative "State aid differential" (meaning they receive less state funding than needed) will instead receive aid equal to their prior year's amount plus a portion of any state aid increases. The bill also ensures regional districts created after 2021 receive the greater of their new regional funding or the combined prior funding of their constituent districts.
This bill creates a new taxable category called "flavored malt beverages" in New Jersey's alcohol tax code, requiring producers to file federal formulas with the Alcohol and Tobacco Tax and Trade Bureau (TTB). It imposes a separate tax rate for this category under the existing alcoholic beverages tax structure, distinct from beer, wine, or liquor. The bill directly affects beverage producers who manufacture these products, as they must now comply with the new tax classification. The summary focuses solely on the defined tax mechanism, without speculating on revenue use or industry impact.
SCR 104 proposes a constitutional amendment to increase New Jersey's veterans' property tax deduction from $250 to $500 annually, phased in over time starting in 2027. The deduction would rise to $300 in 2027, $350 in 2028, $400 in 2029, $450 in 2030, and $500 beginning in 2031. It directly affects honorably discharged veterans, their surviving spouses (including those whose spouses died on active duty), and veterans living in continuing care retirement communities. The amendment requires voter approval after legislative passage to become law.
This bill provides a supplemental appropriation of $144.2 million in state funds to New Jersey's 13 public four-year universities, including Rutgers campuses, NJIT, Rowan, and others. It adds to existing "Outcomes-Based Allocation" funding by tying disbursements to specific measurable outcomes, such as degrees awarded, diversity metrics, STEM healthcare degrees, and enrollment from low-income students. The funds are distributed directly to each institution based on their performance against these state-defined metrics. This is a funding mechanism, not a policy change, and affects all 13 participating public universities in New Jersey.
This bill modifies property tax exemption rules for urban renewal projects. Urban renewal entities must pay an annual service charge to the municipality instead of property taxes for exempt properties. The municipality is required to remit a portion of this service charge to the county. This ensures counties receive revenue from properties that would otherwise generate no local property tax revenue. The policy applies to all urban renewal projects covered under the existing tax exemption program.
This bill eliminates the requirement for remote sellers and out-of-state corporations to meet a 200-transaction threshold to be subject to New Jersey's sales/use tax and corporation business tax. Instead, it retains only the $100,000 revenue threshold for both tax types. Remote sellers must now collect and remit sales tax if their taxable revenue delivered into New Jersey exceeds $100,000 in a calendar year. Similarly, corporations must pay corporation business tax if their receipts from New Jersey sources exceed $100,000 in a fiscal year. The change simplifies tax obligations for businesses operating remotely in New Jersey.
