S.4641

New Jersey S4641 provides tax credits to breweries for donating spent grain byproduct to commercial farms.

New Jersey S4641 authorizes breweries to claim a tax credit for donating spent grain byproduct to commercial farms for agricultural or horticultural use. The credit is calculated at $0.12 per pound of dry weight, up to a maximum of $30,000 per tax year. The credit cannot reduce the brewery's tax liability below zero, and any unused credit can be carried forward for up to five years. Breweries must maintain documentation of the donation for auditing purposes.