The New Jersey Department of Community Affairs, on or about November 21, 2017, will start accepting applications for tax credits from companies with a state business tax liability, up to a maximum of $1 million per company. The applications would be submitted to the Neighborhood Revitalization Tax Credit Program (NRTC), which is designed to foster the revitalization of New Jersey's distressed neighborhoods.
NRTC offers participating companies a 100 percent tax credit against various New Jersey state taxes. The funding from companies that receive the tax credits would be invested in the revitalization of low- and moderate-income neighborhoods in eligible cities, via community-based non-profit organizations with a Department-approved neighborhood revitalization plan. A total of $10 million per year is available in tax credits.
A webinar will be held on Wednesday, October 25, 2017 at 2 PM to further present this investment opportunity to interested companies.
To register for this webinar, please use the following link:
For more information on the NRTC Program, please click here.