New Jersey § 52:27H-77 Carry-forward permitted

New Jersey Statutes

§ 52:27H-77 — Carry-forward permitted

New Jersey § 52:27H-77

Title 52STATE GOVERNMENT, DEPARTMENTS AND OFFICERS

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Bluebook

N.J. Stat. Ann. § 52:27H-77 (2026).

Text

Enterprise zone employee tax credits or enterprise zone investment tax credits provided under section 19 of this act shall not reduce a taxpayer's tax liability under the "Corporation Business Tax Act (1945)," P.L. 1945, c. 162 (C. 54:10A-1 et seq.) in any tax year by more than 50% of the amount otherwise due, but either employee tax credits or investment tax credits remaining and unused in a tax year may be carried forward by the taxpayer to the next succeeding tax year and applied against 50% of the amount of tax otherwise due in that succeeding tax year. L. 1983, c. 303, s. 18; amended 1988,c.93,s.8.

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Enterprise zone employee tax credits or enterprise zone investment tax credits provided under section 19 of this act shall not reduce a taxpayer's tax liability under the "Corporation Business Tax Act (1945)," P.L. 1945, c. 162 (C. 54:10A-1 et seq.) in any tax year by more than 50% of the amount otherwise due, but either employee tax credits or investment tax credits remaining and unused in a tax year may be carried forward by the taxpayer to the next succeeding tax year and applied against 50% of the amount of tax otherwise due in that succeeding tax year. L. 1983, c. 303, s. 18; amended 1988,c.93,s.8.