New Jersey A1757 offers tax credits for businesses hiring formerly incarcerated individuals.
New Jersey A1757 provides corporation business tax and gross income tax credits for businesses that employ formerly incarcerated individuals. To qualify, businesses must ensure that 25% of new hires are formerly incarcerated individuals. The credits amount to 10% of qualified wages, up to $1,200 per individual. Businesses must also conduct recruitment efforts targeting formerly incarcerated individuals and their immediate family members. The credits cannot be used in conjunction with other state tax incentives.
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