New Jersey S1035 increases tax credits for research expenses and payments for targeted industries and all taxpayers, and allows the credit to be.

New Jersey S1035 amends the corporation business tax to increase the qualified research expenses tax credit from 10 percent to 15 percent for taxpayers engaged in targeted industries. The bill also raises the basic research payments tax credit from 10 percent to 15 percent for all taxpayers. Additionally, it allows the research tax credit to be refundable for privilege periods beginning on or after the date of enactment. Targeted industries include advanced transportation, manufacturing, aviation, clean energy, life sciences, and others.

New Jersey S1035 increases tax credits for research expenses and payments for targeted industries and all taxpayers, and allows the credit to be.

New Jersey S1035 amends the corporation business tax to increase the qualified research expenses tax credit from 10 percent to 15 percent for taxpayers engaged in targeted industries. The bill also raises the basic research payments tax credit from 10 percent to 15 percent for all taxpayers. Additionally, it allows the research tax credit to be refundable for privilege periods beginning on or after the date of enactment. Targeted industries include advanced transportation, manufacturing, aviation, clean energy, life sciences, and others.