Allows corporation business tax and gross income tax credits to businesses employing certain persons with developmental disabilities.
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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 tax credits for businesses in New Jersey that hire individuals with developmental disabilities. Businesses can receive a credit against their corporation business tax and gross income tax equal to 40% of the first $6,000 of wages paid to a qualified employee, up to a maximum of $2,400 per employee. The bill defines ‘qualified person with a developmental disability’ and includes provisions to prevent credit recapture if wages are counted towards another credit.
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