New Jersey – Significant expansion and repeal of incentive programs
Effective 9/18/13, New Jersey expands two incentive programs,creates a new ‘zone entity’ benefit, and phases out three programs. The changes generally increase qualified geographic boundaries and lower eligibility thresholds for certain incentives. Taxpayers under consideration for one of the expiring programs should consider the expanded programs. Companies relocating into or expanding in New Jersey should consider applying for the expanded programs as soon as possible to secure benefits.