NJ A4359

Tax credit equals 10% of salary and wages paid to employees who lost their previous job due to automation, with a maximum credit of $2,500 per employee per year

Employers must have headquarters in New Jersey and employ the qualifying worker for at least seven months of the tax year to claim the credit

Applies to both corporation business tax and gross income tax, with unused credits carried forward for up to seven years

"Automation" is defined as a device, process, or system that functions without continuous input from a human operator

According to a 2020 United Way ALICE report, 84% of jobs paying less than $20/hour and 42% of jobs paying more than $20/hour in New Jersey are at high risk of automation