Lege TREND: manufacturing reinvestment accounts

New Jersey is propsing creating manufacturing reinvestment accounts. S1143 (2018)

What would a manufacturing reinvestment accounts do?

•  allow for companies in the state to receive tax reductions, deferrals and deductions on manufacturing equipment and workforce training

Is there a cap? Yes,  $100,000 annually for five years

What requirements to create an account?

• no more than 50 employees
• in good tax standing
• to create the account in a NJ financial institution

NJ BIZ | State senate considering new tax deductions for manufacturing