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NJ at a Glance

NJ at a Glance


To help improve the State's business climate and promote job creation in a bipartisan fashion, Governor Christie implemented $2.35 billion in targeted tax reform and enhanced incentives over five years, including:

  • Adopting a phased-in single sales factor formula for the corporate business tax
  • Promoting a fairer tax code with the Business Income, Loss Netting and Loss Carry Forward Relief
  • Ending the corporate business tax surcharge
  • Increasing the R&D tax credit to 100% of corporate tax liability
  • Enacting a 2% property tax cap
  • Reducing the minimum business tax for S-Corporations by 25%

In addition, we established a bipartisan Red Tape Review Commission (RTRC) to eliminate unnecessary regulatory hurdles. Thanks to the RTRC, we have revised New Jersey's Limited Liability Company Act.

See if your company can benefit from any of the following key tax credit programs by visiting Financing and Incentives

  • New Jobs Investment Tax Credit
  • Sales and Use Tax Exemption Program
  • Technology Business Tax Certificate Transfer Program
  • Urban Enterprise Zones (UEZ)
  • Employment Tax Credit
  • Investment Tax Credit
  • Manufacturers Energy Sales Tax Exemption
  • Reduced Retail Sales Tax Rate
  • Sales Tax Exemption on Purchases

Business Questions?
NJBAC Has Answers!

Call Our Business Helpline
1-800-Jersey-7 or Email


Business Questions?
NJBAC Has Answers!

The New Jersey Business Action Center (NJBAC) is a business-first business advocacy team within the NJ Department of State, dedicated to solving problems and maximizing growth opportunities. Whether you are an entrepreneur, own a business on "Main Street", are located on a corporate campus, or interested in expanding your products and services through export, we're here for you.

"We are from state government and we are here to help your business grow!"

To view our Guide to Business Assistance Programs, please click here.

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