NJ A4137

Creates tax credits equal to 10% of wages paid to qualified veterans, capped at $1,200 per veteran per year, available for tax years from January 1, 2026 through January 1, 2030

Requires employers to have at least 25% of new hires be qualified veterans and retain 50% of veterans hired in the prior year to claim the credit

Defines qualified veterans as New Jersey residents honorably discharged from any U.S. Armed Forces branch (service after January 1, 1965) and initially hired by the employer after January 1, 2010, with at least 185 business days of employment

Mandates employers provide workplace veteran support services, conduct veteran-focused recruitment, support veteran outreach organizations, and exceed federal USERRA employment protections

Prohibits combining this credit with other state employment incentives for the same veteran and authorizes recapture of credits plus a 50% penalty if employers displace workers to replace them with veterans