New Jersey would offer corporate tax credits for metalworking apprentices

New Jersey would let companies claim a corporate tax credit for wages paid to eligible apprentices. The apprentice must be new to or partly trained in a machine tool or metal trade and work for the company at least 1,500 hours during the tax period. Training must last no more than four tax periods and include rising pay, planned job training, and classes that lead to skilled-worker status. The credit cannot lower a company's tax below the required minimum. The credit applies to corporate tax periods beginning on or after January 1, 2027.

New Jersey would provide an income tax credit for eligible apprentice wages, though a conflicting rule may prevent it from lowering tax bills. The apprentice must be new to or partly trained in a machine tool or metal trade and work at least 1,500 hours during the tax year. Training must last no more than four tax years and include rising pay, planned job training, and classes that lead to skilled-worker status. Partners and New Jersey S corporation shareholders would receive their shares of a business's credit; the business could not claim it directly under the income tax rules. One rule says the credit cannot lower tax below the amount already owed for the year, leaving its effect unclear. The income tax credit applies to tax years beginning on or after January 1, 2027.