New Jersey S2053 provides tax credits to small businesses to offset increases in unemployment insurance contributions.
New Jersey S2053 provides tax credits to small businesses to help offset increases in their unemployment insurance contributions. The tax credits are available for small businesses defined by the U.S. Small Business Administration, located in New Jersey, and independently owned and operated. The credits are non-refundable but can be carried forward for seven years. Businesses that use grants or subsidies to offset their unemployment insurance contributions are not eligible for these tax credits.
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