A5592

New Jersey A5592 provides tax credits for businesses purchasing from small businesses.

New Jersey A5592 establishes corporation business and gross income tax credits for eligible businesses that make qualified purchases from small businesses. A "qualified purchase" includes goods or services from a small business, such as agricultural products, tools, furniture, supplies, professional services, and technology services. The tax credit is equal to five percent of the qualified purchases, up to $100,000 per tax period.