New Jersey S2866 provides tax credits for purchasing hydrogen fuel cell vehicles.

New Jersey S2866 offers 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, the credit is 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. To qualify, the taxpayer must file an application for certification from the Commissioner of Environmental Protection.

New Jersey S2866 provides tax credits for purchasing hydrogen fuel cell vehicles.

New Jersey S2866 offers 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, the credit is 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. To qualify, the taxpayer must file an application for certification from the Commissioner of Environmental Protection.