New Jersey Loves New Jersey Farmers Act provides tax credits to commercial farm operators for price loss.
The New Jersey Loves New Jersey Farmers Act provides corporation business tax credits and gross income tax credits to commercial farm operators for price loss. The act allows commercial farm operators to apply for a tax credit based on the price loss of New Jersey commercial farm products. The Secretary of Agriculture determines the price loss and issues a certification. The act also allows for the transfer of tax credits through a tax credit transfer certificate. The tax credit can be carried forward for up to seven years.
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- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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