S.2550

New Jersey S2550 provides a gross income tax exclusion for capital gains from the sale of certain employer securities.

New Jersey S2550 provides a gross income tax exclusion for capital gains from the sale of employer securities of a non-publically traded business with fewer than 500 employees, whose headquarters or base of operations is in this State, to an employee stock ownership plan, a New Jersey S corporation owned by an employee stock ownership plan, or an eligible worker-owned cooperative, benefiting employees of the business in this State, if upon completion of the transaction the employee stock ownership plan, New Jersey S corporation owned by an employee stock ownership plan, or eligible.