S.3687

New Jersey S3687 allows tax credits for employing members of the New Jersey National Guard and reserve component of the US Armed Forces.

New Jersey S3687 provides tax credits for businesses that employ members of the New Jersey National Guard or the reserve component of the US Armed Forces. The credit is $1,500 for each member not on deployment or who has recently returned, and $2,500 for each member who has completed or returned from a deployment. The credit applies to both corporation business tax and gross income tax. The Director of the Division of Taxation can adopt rules to implement the credit. The act takes effect immediately for privilege periods and taxable years beginning after the date of enactment.