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NJ A643
NJ A643Allows tax credits for employing members of NJ National Guard and members of reserve component of US Armed Forces.
summary
Introduced
01/13/2026
01/13/2026
In Committee
01/13/2026
01/13/2026
Crossed Over
Passed
Dead
Introduced Session
2026-2027 Regular Session
Bill Summary
This bill allows a corporation business tax credit or a gross income tax credit for employing members of the New Jersey National Guard or the reserve component of the Armed Forces of the United States. The credit amount is: $1,500 for each member who is employed by the taxpayer and who has not completed or returned from a deployment or activation; and $2,500 for each member who is employed by the taxpayer and who has completed or returned from a deployment or activation.
AI Summary
This bill allows businesses to receive tax credits for hiring members of the New Jersey National Guard or the reserve components of the U.S. Armed Forces, referred to as "qualified service members." These credits can be applied against either the corporation business tax or the gross income tax. The amount of the credit is $1,500 for each qualified service member employed who has not recently been deployed or activated, and $2,500 for each qualified service member who has completed a deployment or activation. The bill also outlines how these credits interact with other tax credits and specifies that partnerships and New Jersey S corporations will have the credit allocated to their owners. The Director of the Division of Taxation is authorized to adopt emergency rules to implement these provisions, and the act takes effect immediately.
Committee Categories
Business and Industry
Sponsors (3)
Last Action
Introduced, Referred to Assembly Commerce and Economic Development Committee (on 01/13/2026)
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/2026/A643 |
| BillText | https://pub.njleg.gov/Bills/2026/A1000/643_I1.HTM |
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