New Jersey A821 allows a corporation business tax credit for subcontracting work to small businesses in New Jersey.

New Jersey A821 provides a tax credit for corporations that subcontract work to small businesses in New Jersey. The credit is equal to one percent of the amount paid to a New Jersey small business for subcontracted work performed in New Jersey. To qualify, the subcontractor must have fewer than 50 employees and cannot be an affiliate, subsidiary, or under the control of the taxpayer. The credit cannot exceed 50 percent of the tax liability and must not reduce the tax liability below the statutory minimum. The act applies to privilege periods beginning after its enactment.

New Jersey A821 allows a corporation business tax credit for subcontracting work to small businesses in New Jersey.

New Jersey A821 provides a tax credit for corporations that subcontract work to small businesses in New Jersey. The credit is equal to one percent of the amount paid to a New Jersey small business for subcontracted work performed in New Jersey. To qualify, the subcontractor must have fewer than 50 employees and cannot be an affiliate, subsidiary, or under the control of the taxpayer. The credit cannot exceed 50 percent of the tax liability and must not reduce the tax liability below the statutory minimum. The act applies to privilege periods beginning after its enactment.