New Jersey legislation · 2026-2027 Regular Session
New Jersey A5592: Businesses, certain-provide certain tax credits for qualified purchases
Status: In committee, October 5, 2026
Provides corporation business and gross income tax credits to certain businesses for qualified purchases from NJ small businesses.
What the bill says
An Act providing tax credits to certain business for certain purchases from small business and supplementing P.L.1945, c.162 (C.54:10A-1 et seq.) and Title 54A of the New Jersey Statutes.
From the introduced text, October 5, 2026:
An Act providing tax credits to certain business for certain purchases from small business and supplementing P.L.1945, c.162 (C.54:10A-1 et seq.) and Title 54A of the New Jersey Statutes. Be It Enacted by the Senate and General Assembly of the State of New Jersey: 1. a. As used in this section: Eligible business means a business with no more than 100 full-time employees and taxable income of no more than $20 million that is independently owned and operated, has its principal place of business in this State, and is not delinquent or deficient with respect to the payment of any State tax. Qualified purchase means a purchase of goods or services from a small business, including, but not limited tools or manufacturing equipment; furniture or fixtures; supplies; products manufactured or substantially transformed in this State; professional services; technology services; construction, maintenance, repair, and other services related to the property used for the eligible business; communications or advertising services; and transportation or logistics services. Qualified purchase does not include payments to a small business for utilities, rent, or a mortgage. Small business means a business with no more than 50 full-time employees, at least one of whom is a resident of this State, that is registered to do business in this State, maintains at least one physical business location in this …
Sponsors
- Gerry Scharfenberger (R, 13) · primary sponsor
- Robert D. Clifton (R, 12)
- Victoria A. Flynn (R, 13)
Latest actions
- : INT 1RA REF ACE
Subjects: TAXATION - BUSINESS TAXES
Common questions
- What is A5592?
- A5592 is a bill in the New Jersey Legislature (2026-2027 Regular Session): Businesses, certain-provide certain tax credits for qualified purchases.
- What does A5592 do?
- In its own words: An Act providing tax credits to certain business for certain purchases from small business and supplementing P.L.1945, c.162 (C.54:10A-1 et seq.) and Title 54A of the New Jersey Statutes.
- What is the status of A5592?
- In committee as of October 5, 2026. Latest action: INT 1RA REF ACE (October 5, 2026).
- Who sponsored A5592?
- Gerry Scharfenberger (R, 13), with 2 co-sponsors.
- Where is the official record for A5592?
- On the New Jersey Legislature website: https://www.njleg.state.nj.us/bill-search/2026/A5592
Source: official New Jersey record. Tracked by Delilah, AI for legislation across all 50 states and Congress.