New Jersey S865 provides tax credits to breweries for qualified capital expenses.

New Jersey S865 provides tax credits to breweries for qualified capital expenses. Brewers can claim credits for expenses related to plant, machinery, equipment, or other approved items used in the manufacture or sale of brewed beverages. The total annual tax credits are capped at $5 million, with individual taxpayers limited to $200,000 per year, which can be carried over for up to three years. The Director of the Division of Taxation must review applications within 90 days and issue written authorization for credits.

New Jersey S865 provides tax credits to breweries for qualified capital expenses.

New Jersey S865 provides tax credits to breweries for qualified capital expenses. Brewers can claim credits for expenses related to plant, machinery, equipment, or other approved items used in the manufacture or sale of brewed beverages. The total annual tax credits are capped at $5 million, with individual taxpayers limited to $200,000 per year, which can be carried over for up to three years. The Director of the Division of Taxation must review applications within 90 days and issue written authorization for credits.