New Jersey S1852 provides tax credits for small businesses and farm employers related to the increase in the State minimum wage.

New Jersey S1852 provides corporation business tax credits and gross income tax credits to small business employers and farm employers for the increase in the State minimum wage. The credit is calculated based on the difference between the new minimum wage and the previous wage, multiplied by the number of hours worked by employees. The credit is limited to $12,500 per employee and is available for ten subsequent privilege periods or taxable years.

New Jersey S1852 provides tax credits for small businesses and farm employers related to the increase in the State minimum wage.

New Jersey S1852 provides corporation business tax credits and gross income tax credits to small business employers and farm employers for the increase in the State minimum wage. The credit is calculated based on the difference between the new minimum wage and the previous wage, multiplied by the number of hours worked by employees. The credit is limited to $12,500 per employee and is available for ten subsequent privilege periods or taxable years.