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The job market has seen a tough four years, and states are scrambling to find ways to bring jobs into their own states. Some states are offering big tax cuts to employers who hire people who have been suffering from long term employment, and others are lowering corporate taxes in hopes of attracting more big name employers to their state. Budget cuts and a legendary storm hit the state of New Jersey hard in 2012, but NJ jobs are still growing. Government officials have been trying to find a way to boost statewide employment by introducing legislation that would benefit smaller businesses that have been hit the hardest during the recession, and it seems like there is a good chance that it could pass. New Jobs for New Jersey The New Jobs for New Jersey Act has been sponsored by Assemblymen John Burzichelli, Troy Singleton, Wayne DeAngelo, Daniel Benson, Albert Coutinho and Ruben Ramos, Jr; and they think that their plan is crucial for helping small businesses hire more employees and increase their employment opportunities. The act is designed to provide incentives for small business to hire unemployed New Jersey residents. The state's General Assemly voted to approve the act, now it's just waiting for approval from the state's governor Chris Christie. Democratic Burlington Assemblyman Troy Singleton believes that the act will help provide a more stable job environment for both employers and employees, and also thinks that it's a great way for small businesses to effectively cover the costs for hiring new people. Act Details The New Jobs for New Jersey Act may initially sound complicated, but at its core it's a very simple and straightforward plan. The bill will make an employer of 100 or fewer full-time employees eligible for a refundable tax credit either against the corporation business tax or the gross income tax for each full time employee during the tax year. Employees who qualify for the credit will need to have been hired after October 1st 2012, and may not have a previous work history with the employer. Employees who qualify also need to have lacked full-time employment for at least 30 or more days prior to getting their current job. The refundable tax credit amount for each employee is the total amount of the employer payroll taxes that were paid during the tax year. The employer payroll taxes can include payments that fund unemployment, temporary disability, workforce development, and other taxes that are associated with federal programs like social security and Medicare.
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New Jersey, New Jersey jobs, jobs in New Jersey, NJ jobs,
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