NJ S4095

Provides a 10% tax credit against corporation business tax and gross income tax for taxpayers who purchase qualified farming equipment used directly in eligible farming operations in New Jersey

Caps the credit at 25% of the taxpayer's tax liability for any given tax year, with unused credits eligible to be carried forward for up to seven years

Requires taxpayers to obtain certification from the Secretary of Agriculture confirming they are engaged in an eligible farming operation and have acquired qualifying equipment

Defines eligible farming operations broadly to include commercial growing, harvesting, processing, or raising of agricultural products including crops, livestock, dairy, poultry, bees, aquaculture, horticulture, and silviculture

Secretary of Agriculture must process certification applications within 90 days; applications are automatically deemed approved if no determination is made within that timeframe