New Jersey R&D Tax Credit Summary

R&D Tax Credit Available

Yes

STATE

New Jersey

NAME

Research and Development Tax Credit

DOES IT APPLY TO C-CORPS & PASS THROUGHS?

C Corps and S Corps only

DESCRIPTION

Nonrefundable credit with similar definitions as federal for Qualified Research Expenses and Qualified Research Activities except only include New Jersey-based expenses.

PERCENTAGE

10% on incremental expenses similar to federal method. Regular or ASC may be chosen for calculation method.