Bill > S1940

This bill allows corporation business tax and gross income tax credits to businesses paying a salary differential to National Guard members or reservists who are on active duty. The credit is equal to the amount paid by the business that, when added to the salary paid by the U.S. government, equals the employee's regular salary or wages. The credit is subject to certain limitations, such as not exceeding 50% of the business's tax liability. The bill also allows for the carryover of any unused credit to the following seven privilege periods or taxable years. The provisions apply to privilege periods and taxable years beginning after the bill's enactment.

Budget and Finance, Military Affairs and Security

https://www.njleg.state.nj.us/bill-search/2022/S1940