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NJ A681

Allows credit against corporation business tax and gross income tax liability for employing persons with a developmental disability.


summary

Introduced
01/11/2022
In Committee
02/03/2022
Crossed Over
Passed
Dead
01/08/2024

Introduced Session

2022-2023 Regular Session

Bill Summary

This bill allows taxpayers to claim a credit against their corporation business tax liability or gross income tax liability in the amount of 10 percent of salary and wages paid to an employee with a developmental disability. The credit is capped at $3,000 per employee, and the total credit is capped at $60,000 per taxpayer per year. The bill defines "employee with a developmental disability" as an employee of the taxpayer who has a developmental disability as defined in N.J.S.A.30:6D-25 and for who the Division of Developmental Disabilities in the Department of Human Services has declared eligible for its services. New Jersey already allows taxpayers to claim a credit for the employment of certain persons with disabilities at an occupational training center or sheltered workshop. This bill allows a credit for any type of employment, but taxpayers will be prohibited from claiming the credit allowed by this bill if in the same year they claim a credit for employment of the same employee at an occupational training center or sheltered workshop.

AI Summary

This bill allows taxpayers to claim a credit against their corporation business tax or gross income tax liability in the amount of 10 percent of salary and wages paid to an employee with a developmental disability, as defined by New Jersey law. The credit is capped at $3,000 per employee and $60,000 per taxpayer per year. Taxpayers are prohibited from claiming this credit if they are also claiming a credit for employing the same employee at an occupational training center or sheltered workshop. The bill also provides the Director of the Division of Taxation with the authority to adopt regulations to implement the law.

Committee Categories

Budget and Finance, Government Affairs

Sponsors (5)

Last Action

Reported and Referred to Assembly Appropriations Committee (on 02/03/2022)

bill text


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