New Jersey S4521 provides tax credits for funding construction or expansion of rural meat processing facilities.

New Jersey S4521 establishes tax incentives for taxpayers funding projects to construct or expand rural meat processing facilities. The bill provides credits against the Corporation Business Tax and the New Jersey Gross Income Tax. The credit is 20 percent of the total costs incurred by the taxpayer, or 30 percent if the project includes a smokehouse, sausage line, packaging facility, or cold storage facility. Each credit is capped at $5 million, with a cumulative total cap of $50 million. The tax credits will expire after five years.

New Jersey S4521 provides tax credits for funding construction or expansion of rural meat processing facilities.

New Jersey S4521 establishes tax incentives for taxpayers funding projects to construct or expand rural meat processing facilities. The bill provides credits against the Corporation Business Tax and the New Jersey Gross Income Tax. The credit is 20 percent of the total costs incurred by the taxpayer, or 30 percent if the project includes a smokehouse, sausage line, packaging facility, or cold storage facility. Each credit is capped at $5 million, with a cumulative total cap of $50 million. The tax credits will expire after five years.