New Jersey A3565 provides tax credits for the purchase of compressed natural gas vehicles.

New Jersey A3565 provides corporation business tax credits and gross income tax credits for the purchase of certain compressed natural gas vehicles. The credits are available for purchases made in tax years beginning in 2023, 2024, and 2025. For personal income taxpayers, the bill provides a gross income tax credit for the purchase of CNG passenger automobiles, with credits gradually reduced each year. For business entities, the bill provides a credit for the purchase of CNG passenger automobiles and a credit for the purchase of Class 8 CNG trucks.

New Jersey A3565 provides tax credits for the purchase of compressed natural gas vehicles.

New Jersey A3565 provides corporation business tax credits and gross income tax credits for the purchase of certain compressed natural gas vehicles. The credits are available for purchases made in tax years beginning in 2023, 2024, and 2025. For personal income taxpayers, the bill provides a gross income tax credit for the purchase of CNG passenger automobiles, with credits gradually reduced each year. For business entities, the bill provides a credit for the purchase of CNG passenger automobiles and a credit for the purchase of Class 8 CNG trucks.