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  • NJ A241
  • Allows exclusion of certain alternative energy and energy conservation patent income under gross income tax and corporation business tax.
In Committee
Crossed OverPassedSignedDead/Failed/Vetoed
2016-2017 Regular Session
This bill allows for an exclusion under the gross income tax and the corporation business tax of any income, including royalty income, received from the sale, lease or other transfer of certain energy related patents held by a New Jersey resident or corporation. As determined by the Commissioner of Environmental Protection, in consultation with the President of the Board of Public Utilities, an eligible patent must be certified beneficial for energy conservation or alternative energy development and must additionally be of economic value, practicable and necessary to the welfare of the State. The bill requires that a taxpayer apply for certification from the Commissioner and that that certification be submitted by the taxpayer while filing a return claiming an exclusion.
Commerce and Economic Development
Introduced, Referred to Assembly Commerce and Economic Development Committee  (on 1/27/2016)
Date Chamber Action Description
1/27/2016 A Introduced, Referred to Assembly Commerce and Economic Development Committee
Date Motion Yea Nay Other
None specified