NJ S1645

Provides one-time tax credits against corporation business tax or gross income tax for organic farmers who were previously certified by the New Jersey Department of Agriculture and had to obtain certification from an outside accredited certifying agent after the department ended its organic certification program on May 30, 2022

Credit amount equals the difference between fees paid to an outside accredited certifying agent and fees that would have been paid to the department for organic certification during the period from May 30, 2022 to December 31, 2022

Applies only to taxpayers who were certified by the department as of January 11, 2022 and whose outside certification fees exceeded what department fees would have cost

Qualified taxpayers must apply to the Department of Agriculture for certification of their fees and credit amount, and include this certification when filing tax returns claiming the credit

Credits apply to privilege periods and taxable years beginning on or after January 1, 2022 but before January 1, 2023