New Jersey S4594 allows corporation business tax credits for redevelopment of distressed shopping centers.
New Jersey S4594 establishes a program for corporation business tax credits to incentivize the redevelopment of distressed shopping centers. The New Jersey Economic Development Authority will certify developers who make retail investments in these centers. Eligible developers can receive a tax credit of up to $15,000, not exceeding 50 percent of the corporation business tax owed.
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