NJ S2165

Creates a historic diner and restaurant registry maintained by the Division of Travel and Tourism, requiring establishments to have operated continuously for at least 25 years, qualify as a small business under federal law, and comply with health/safety/zoning requirements (historic restaurants must also be family-owned)

Provides a 12-month sales and use tax exemption on prepared food and beverages for on-site consumption at registered historic diners and restaurants

Establishes a tax credit equal to 10% of eligible ingredient costs (food substances used in menu preparation, excluding alcohol and tobacco), capped at $25,000 per year, applicable against corporation business tax or gross income tax

Tax credits may be carried forward for up to seven years if unused due to liability limitations, and credit holders may sell or transfer credits to other taxpayers for use within three successive tax periods

Requires annual application and renewal for registry inclusion, with the Director of Taxation issuing exemption certificates and tax credit certificates upon approval