Legislators Aim to Boost New Jersey Tech Startups with Increased Tax Credits

New Jersey Tech StartupsIf proposed legislation is passed, New Jersey tech startups may receive an additional boost in interest from private investors. With all of the reports on new taxes and State spending, it is welcome news for New Jersey businesses that are on the cutting edge of technology development and commercialization:

“This bill will allow us to maintain our competitive advantage over surrounding states.” — Assemblyman Christopher DePhillips, R – 40th District…The state legislature has introduced two new bills that would increase the tax credit under the New Jersey Angel Investor Tax Credit Act from 10 to 25 percent. Companion bills S2298 and A3677 would offer the refundable credit against state corporation business, or income, tax for private investments in startup technology companies with fewer than 225 employees in the fields of research, manufacturing or technology commercialization”

Read: State legislature aims to boost startup tech companies with increased tax credits at NJBIZ

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