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NJ S1851
Bill
Status
1/9/2024
Primary Sponsor
Parker Space
Click for details
AI Summary
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Farm employers in New Jersey can claim a $250 tax credit per employee for providing on-premises lodging that is required as a condition of employment for at least six continuous weeks.
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Transportation benefits provided to farm employees qualify for a tax credit equal to the actual dollar value of reimbursements, up to $500 per employee per year.
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Credits apply to both corporation business tax (CBT) and gross income tax (GIT), with CBT credits capped at 50% of tax liability and unused portions carried forward up to four years.
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GIT credits exceeding tax liability result in a refund to the farm employer.
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The bill takes effect for taxable years beginning on or after January 1 following enactment.
Legislative Description
Prohibits for 10 years applicability of new State and local rules and regulations to certain manufacturing facilities.
Commerce
Last Action
Introduced in the Senate, Referred to Senate Commerce Committee
1/9/2024