Tax Credits Considered in NJ

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S.B. 2718 provides one-time, nonrefundable corporation business tax and gross income tax credits to taxpayers that are owners of alcoholic beverage manufacturers, bars, or restaurants, for eligible health and safety expenditures incurred by taxpayers during the COVID-19 state of emergency. The total credit allowed to a taxpayer during the taxable year or privilege period will not exceed $1,000.

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