TRENTON, NJ-Reversing his stance that led to a veto back in 2011, Gov. Chris Christie has signed a bill into law that offers tax breaks to angel investors.
In announcing his approval of the legislation, the governor said the measure would incentivize “millions of dollars in private investment in New Jersey’s entrepreneurial businesses, with jobs right here in the Garden State.”
The new law now offers investors = a tax credit of up to 10% of their investment for putting money into certain New Jersey technology companies. The companies must have fewer than 225 employees, and they have to be involved in researching, manufacturing or selling technology in the state, according to The Record.
Tax credits are limited to $500,000 per investment, and the total of all tax credits is capped at $25 million a year. See story in The Record.