Bill > A3113

This bill provides corporation business tax and gross income tax credits for the value of certain fruit and vegetable donations made by commercial farm operators to charitable organizations located in New Jersey. The bill allows a credit equal to 10% of the wholesale value of the donated produce for privilege periods or taxable years beginning on or after January 1, 2024 but before January 1, 2029. The bill also requires the Director of the Division of Taxation to prepare an annual report on the utilization of these tax credits, and establishes that the Office of the Food Security Advocate within the Department of Agriculture will maintain a list of approved charitable organizations that commercial farms may select when making donations for the purposes of receiving the tax credit.

Agriculture and Natural Resources, Business and Industry

https://www.njleg.state.nj.us/bill-search/2022/A3113