Bill
Bill > A5557
NJ A5557
Increases amount of tax credits for investments made in certain technology business ventures under "New Jersey Angel Investor Tax Credit Act."
summary
Introduced
06/05/2023
06/05/2023
In Committee
06/15/2023
06/15/2023
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
Increases amount of tax credits for investments made in certain technology business ventures under "New Jersey Angel Investor Tax Credit Act."
AI Summary
This bill increases the amount of tax credits for investments made in certain technology business ventures under the "New Jersey Angel Investor Tax Credit Act." Specifically, it increases the tax credit percentage from 20% to 60% (or 65% under certain conditions) of the qualified investment made by a taxpayer in a New Jersey emerging technology business, a holding company that transfers funds to such a business, or a qualified venture fund. The bill also reduces the employee threshold for a "New Jersey based business" and "New Jersey emerging technology business" from 225 to 150 employees. The changes apply to taxable years and privilege periods beginning on or after January 1 of the year following the date of enactment.
Committee Categories
Budget and Finance, Business and Industry
Sponsors (4)
Last Action
Reported and Referred to Assembly Appropriations Committee (on 06/15/2023)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2022/A5557 |
| Analysis - Statement AST 6/15/23 | https://pub.njleg.gov/Bills/2022/A6000/5557_S1.PDF |
| BillText | https://pub.njleg.gov/Bills/2022/A6000/5557_I1.HTM |
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