New Jersey A2382 creates a pilot program offering tax credits for fruit and vegetable donations by commercial farm operators.
New Jersey A2382 establishes a pilot program providing tax credits for corporation business tax and gross income tax based on the value of donated fruits and vegetables by commercial farm operators. The credits are available for the first three tax periods following the bill's enactment. To claim the credit, commercial farm operators must obtain a written statement from the charitable organization substantiating each donation. The credit amount is equal to 50 percent of the wholesale value of the donated fruits or vegetables, up to $5,000 per tax period.
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