NJ S1241

Establishes a corporation business tax credit of $3.31 for every $100 in retail sales of New Jersey made products, approximating 50% of the state sales tax rate.

Defines "New Jersey made products" as items where all or virtually all significant parts, processing, and labor originate from New Jersey, excluding products with more than negligible out-of-state content.

Unused tax credits may be carried forward for up to seven privilege periods following the year the credit was earned.

Credits cannot reduce tax liability below the statutory minimum, and the Director of Taxation determines priority when multiple credits apply.

Authorizes the Division of Taxation to immediately adopt emergency rules for 18 months to implement documentation and verification requirements.