Increases tax credits for investments made in emerging technology businesses under "New Jersey Angel Investor Tax Credit Act."
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Progress
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- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill increases the tax credits available under the New Jersey Angel Investor Tax Credit Act for investments made in emerging technology businesses. It raises the percentage of qualified investments eligible for a tax credit to 30% (from 20%) and to 35% if certain requirements are met, and it increases the maximum credit amount to $500,000 per investment. Additionally, the bill provides an additional 5% credit for investments in businesses located in qualified opportunity zones or low-income communities, and includes specific definitions related to qualified investments and emerging technology businesses.
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