Provides corporation business tax and gross income tax credits for employing immediate family members of members of the Armed Forces of the United States who were killed in action.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill creates two tax credits for New Jersey corporations: a corporation business tax credit and a gross income tax credit. These credits are available to businesses that hire immediate family members (spouse, child, or parent) of U.S. military personnel who were killed in action. The credits are equal to 10% of the qualified wages paid to these family members, up to a maximum of $1,200 per family member per year, provided the employment is ‘new and sustained’ for at least nine consecutive months.
Bill text
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Sponsors
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2 on record
Primary sponsors
Anthony Bucco
James Holzapfel
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