Corporations with more than $10 million in taxable net income are now subject to a 2.5% Corporate Transit Fee, effective from January 1, 2024, through December 31, 2028. This fee is in addition to the annual Corporation Business Tax and aims to support New Jersey Transit. Public utilities and New Jersey S Corporations are exempt from this fee.

Small-scale developers can apply for grants of up to $250,000 for pre-development soft costs through the Emerging Developers Grant pilot program. Developers who have completed between two and five commercial or mixed-use properties of a similar scope may be eligible. Interested developers can take an eligibility assessment to determine if they qualify. 

Applications are now open and will be accepted on a rolling basis until funds are exhausted.

The NJ Law Against Discrimination (LAD) protects employees of NJ-based employers, regardless of where they work remotely. All protected characteristics under the LAD are included.

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Eligible companies can receive grants worth up to $500,000 per business to relocate out-of-State, NJ-resident employees back to New Jersey. Applications will be accepted on a rolling basis until funding is exhausted.

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Contractors buying materials for affordable housing can now claim a Sales Tax exemption. Use Form ST-13 to certify tax-free purchases for qualifying projects. Keep records for potential audits. Incorrectly paid taxes? You can file for a refund within four years. Questions? Email Taxation.RegulatoryServices@treas.nj.gov.

The new Small Business Manual from the New Jersey Business Action Center (NJBAC) is designed to provide support and guidance for small business owners and entrepreneurs. This free resource offers a wealth of information on planning, launching, operating, and growing your business in New Jersey.

The manual covers essential topics such as writing a business plan, financing your business, registering with the state, obtaining licenses and certifications, navigating taxes, hiring employees, and much more.

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Existing investors supporting early-stage, innovation-focused companies in New Jersey can receive guarantees on their loans from the NJ Entrepreneur Support Program. The program provides guarantees at 80% of the loan amount totaling a maximum of $500,000 to a company on investor loans advanced for working capital to businesses.

Completed applications from investors and the company for guarantees will be considered on a first-come, first-served basis, including the ability to consider multiple guarantees per company towards the $400,000 company exposure cap.

Please review the program website at www.njeda.com/njesp for further information and to determine your eligibility for the program.

A new law provides breweries, distilleries, and other craft beverage manufacturers with additional operational flexibility. Here are the key provisions:

• Outdoor Service: Craft manufacturers can now serve alcohol outdoors with the approval of the local municipality.
• Onsite and Off-Premises Events: License holders are permitted to hold unlimited onsite events and up to 25 off-premises events per year without needing additional permits for each event.
• Production Cap: The annual production limit for holders of restricted brewery licenses has been raised to 300,000 barrels.
• Food Vendor Partnerships: Craft manufacturers are allowed to form partnerships with food vendors, provided that the operations of the craft manufacturer and the food vendor are conducted independently.
• Snack and Non-Alcoholic Beverage Sales: Manufacturers are now authorized to sell pre-packaged snacks and non-alcoholic beverages.
• Televised Events: Showing televised events on the premises no longer requires special permits for craft manufacturers.
• Merchandise Sales: The sale of merchandise related to the craft manufacturer, such as branded apparel, is now permitted.

The prior requirement for educational tours as a condition for on-premises sales has been removed. For complete details on how these changes could affect your craft beverage business, please refer to the full text of the legislation or seek professional legal advice.

Starting August 1st, 2024, New Jersey liquor license holders should be aware of new provisions affecting inactive licenses. An inactive license is one that hasn't been used for two consecutive license terms. To prevent expiration, license holders must either use their inactive license or transfer it. Municipalities may offer a one-year extension to this period.

License holders are encouraged to familiarize themselves with the options for activating or transferring their licenses to avoid forfeiture. Detailed information on these processes is available here, providing guidance on how to navigate the new law and maintain your license.

Upcoming changes to liquor license regulations in New Jersey may require holders of inactive licenses to take action. Beginning August 1^st, 2024, if a liquor license has not been used for two consecutive license terms, the holder may face the risk of the license expiring. However, there are options for transferring the license and preventing its expiration.

Transferring an Inactive Liquor License:

1. Activate at a New Location: License holders may reactivate their license by using it at a new premises within the same municipality, subject to local regulations and zoning requirements.
2. Transfer to a Contiguous Municipality: License holders can opt to transfer their license to a neighboring municipality for use in a designated redevelopment, improvement, or revitalization area. Both the sending and receiving municipalities must approve the transfer, which is subject to a transfer fee.
3. One-Year Extension: Municipalities have the authority to grant a one-year extension to the inactive period, giving license holders additional time to make arrangements for the use or transfer of their license.

Affected license holders should take timely action to either use or transfer their inactive license.

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