New Jersey S1853 offers tax credits to small business employers and farm employers for increases in mandatory employer contributions.

New Jersey S1853 provides corporation business tax credits and gross income tax credits to small business employers and farm employers for increases in certain mandatory employer contributions. The credit is equal to the difference between the amounts expended as mandatory employer contributions for workers’ compensation insurance and New Jersey Temporary Disability Insurance and Unemployment Insurance during the privilege period or taxable year, minus the amounts that would have been expended for the same amount of employees and wages during the preceding privilege period or taxable year.

New Jersey S1853 offers tax credits to small business employers and farm employers for increases in mandatory employer contributions.

New Jersey S1853 provides corporation business tax credits and gross income tax credits to small business employers and farm employers for increases in certain mandatory employer contributions. The credit is equal to the difference between the amounts expended as mandatory employer contributions for workers’ compensation insurance and New Jersey Temporary Disability Insurance and Unemployment Insurance during the privilege period or taxable year, minus the amounts that would have been expended for the same amount of employees and wages during the preceding privilege period or taxable year.