New Jersey S4305 increases grant limits for businesses reassigning employees to New Jersey and requires guidance publication for tax refund claims.
New Jersey S4305 amends the New Jersey Re-Assigning In-State Employees pilot program, administered by the New Jersey Economic Development Authority. The bill increases the grant limit for businesses reassigning employees to New Jersey, allowing grants to exceed $500,000 if long-term tax revenues are projected to exceed 200 percent of the grant. It also mandates the Division of Taxation to publish guidance for residents seeking refunds from other states or jurisdictions.
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