New Jersey S4031 provides a corporation business tax credit for investments in manufacturing equipment, facility renovations, and employee training.

New Jersey S4031 offers a corporation business tax credit for investments in manufacturing equipment, facility renovations, modernization, and expansion, or hiring and training of new employees for manufacturing purposes. The credit applies to expenditures in Smart Growth Areas and is limited to 10% of the costs of new manufacturing equipment, facility renovations, or training. The bill also mandates a report by the Director of the Division of Taxation to the Governor and the Legislature by January 1, 2029, detailing the credit's effectiveness and any increased departmental workload.

New Jersey S4031 provides a corporation business tax credit for investments in manufacturing equipment, facility renovations, and employee training.

New Jersey S4031 offers a corporation business tax credit for investments in manufacturing equipment, facility renovations, modernization, and expansion, or hiring and training of new employees for manufacturing purposes. The credit applies to expenditures in Smart Growth Areas and is limited to 10% of the costs of new manufacturing equipment, facility renovations, or training. The bill also mandates a report by the Director of the Division of Taxation to the Governor and the Legislature by January 1, 2029, detailing the credit's effectiveness and any increased departmental workload.