A 3860
Provides corporation business tax credit for certain investment in manufacturing equipment and manufacturing facility renovation, modernization, and expansion, or hiring and training of new employees for manufacturing purposes.
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Sign in to take action- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill creates a corporate tax credit for New Jersey businesses that invest in manufacturing. Companies can receive a credit for spending on new manufacturing equipment, renovating or expanding existing manufacturing facilities located in designated ‘Smart Growth Areas,’ or hiring and training new full-time manufacturing employees. The credit is 10% of the eligible investment and can be carried forward for up to seven years.
Sponsors
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Primary sponsors
Craig Coughlin
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