New Jersey bill offers tax credit for businesses hiring workers displaced by automation.

New Jersey Assembly Bill A4359 provides a tax credit for businesses with headquarters in the state that hire individuals who lost their jobs due to automation. The credit amounts to 10% of the salary and wages paid to each eligible employee, with a maximum of $2,500 per employee per year. To qualify, the employee must have been terminated due to automation and be employed for at least seven months. The bill defines automation as a device, process, or system that replaces human labor and operates without continuous human input.

New Jersey bill offers tax credit for businesses hiring workers displaced by automation.

New Jersey Assembly Bill A4359 provides a tax credit for businesses with headquarters in the state that hire individuals who lost their jobs due to automation. The credit amounts to 10% of the salary and wages paid to each eligible employee, with a maximum of $2,500 per employee per year. To qualify, the employee must have been terminated due to automation and be employed for at least seven months. The bill defines automation as a device, process, or system that replaces human labor and operates without continuous human input.