Provides credits against corporation business and gross income taxes for certain employers that invest in human capital.
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Progress
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- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill creates tax credits for New Jersey businesses that invest in their employees' training and skills development. Qualified employers – those with less than $2.5 million in annual revenue and operating in the state for under 10 years – can receive a 10% credit against their taxes for human capital investments, up to a maximum of $2,000 per employee. These credits can be claimed over a maximum of five privilege periods.
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