Bill > A4216

This bill establishes one-time tax credits for certain organic farmers in New Jersey. The credits are available for the privilege period (for corporation business tax) and taxable year (for gross income tax) beginning on or after January 1, 2022, but before January 1, 2023. To qualify, a farmer must have been certified by the New Jersey Department of Agriculture as an organic producer on January 11, 2022, and must have paid fees to both the department and an accredited certifying agent for organic certification during the period from May 30, 2022 to December 31, 2022, with the fees to the accredited agent exceeding those paid to the department. The amount of the credit is equal to the difference between the fees paid to the accredited agent and the fees paid to the department. The Department of Agriculture, in consultation with the Director of the Division of Taxation, is responsible for administering the tax credit program.

Agriculture and Natural Resources

https://www.njleg.state.nj.us/bill-search/2022/A4216