New Jersey A3933 provides tax credits for businesses and individuals purchasing hydrogen fuel cell vehicles.
New Jersey A3933 provides corporation business tax credits and gross income tax credits for the purchase of hydrogen fuel cell vehicles. The credits are available for tax periods beginning in calendar years 2023, 2024, and 2025. For vehicles purchased in 2023, a taxpayer can claim a credit of 25 percent of the cost, up to $15,000 per vehicle. For 2024, the credit is 15 percent of the cost, up to $9,000 per vehicle. For 2025, the credit is eight percent of the cost, up to $5,000 per vehicle.
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