Provides a corporation business tax credit for investment in certain manufacturing equipment, facility renovation, modernization, and expansion.
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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 a corporate tax credit for investments made in New Jersey manufacturing facilities. Companies can receive a 20% credit for expenses related to installing new manufacturing equipment, renovating, modernizing, or expanding existing facilities. Unused credits can be carried forward for up to seven years. The credit is subject to certain limitations and doesn't qualify for other existing tax credits.
Bill text
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Document of record
- Version
- Introduced
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Sponsors
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3 on record
Primary sponsor
Michael Testa
Cosponsors
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