new jersey business resource center

Tax Incentives

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New Jersey has no net worth tax, no business personal property tax, no commercial or occupancy tax, and no retail gross-receipts tax. Personal income taxes are among the region's lowest. In fact taxes have been cut a total of 17 times since 1994., returning more than $6 billion to the taxpayers.

Recent modifications to New Jersey's Tax code:

  • Provided a 30% reduction in the state's Personal Gross Income Tax Rates
  • Increased the minimum taxable income under the Personal Gross Income Tax
  • Provided aggressive job and equipment tax credits
  • Provided Sales Tax exemption for the purchase of broadcast equipment

Companies that make investments in new or expanded business facilities that are directly related to the creation of new jobs may be eligible for credits against their New Jersey Corporation Business Tax liability. Job tax credits are also available to firms expanding, or relocating in the state.

For more information, please contact the
Department of Client Promotion
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New Jersey Commerce & Economic Growth Commission
P.O. Box 820
Trenton, NJ 08625-0820
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