S 2734
Provides gross income tax exclusion for capital gains from sale of certain employer securities by qualified businesses that result in net positive benefit to State.
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Bill overview
This bill proposes a gross income tax exclusion for capital gains realized from the sale of specific employer securities by qualified businesses in New Jersey. To qualify, the business must demonstrate a ‘net positive benefit’ to the state, as determined by the New Jersey Economic Development Authority, including job retention and reduced unemployment insurance claims. The exclusion applies to sales to employee stock ownership plans, New Jersey S corporations owned by such plans, or eligible worker-owned cooperatives, provided the plan owns at least 30% of the employer securities.
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yoursRead the latest version inline or switch to a previous version.