New Jersey Senate Passes Bill Raising Angel Investor Tax Credit

The New Jersey Senate unanimously passed a bill increasing the level of incentives available under the state’s Angel Investor Tax Credit program.

The legislation (S3189) would boost the amount of tax credits available to taxpayers who back an emerging technology business or qualified venture fund, from 20% to 35% of their investment. It also would raise the bonus credit for investments in such businesses located in qualified opportunity zones and low-income communities, as well as for minority- and women-owned startups, to 40% of a taxpayer’s investment, up from 25%. The abatement is applied against the investor’s corporation business ...