Throughout the week, we highlight selected developments involving state tax legislative, judicial, and administrative matters. The alerts provide a brief summary of specific multistate developments relevant to taxpayers, tax professionals, and other interested persons. Read the recent alerts below or visit the archive.
New Jersey Manufacturing Voucher Program Phase 3- application opening early 2025 The New Jersey Manufacturing Voucher Program (“NJ MVP”) Phase 3 is a $10 million grant initiative aimed at supporting New Jersey manufacturers in accessing the equipment they need to improve efficiency, productivity, and profitability. Under this program, eligible manufacturers can receive reimbursement grants up to 50% of eligible equipment costs, with a maximum award of $250,000 per manufacturer. This program prioritizes new applicants during the initial two-week application period to ensure equitable access to funding. The program is traditionally oversubscribed, and funds are allocated on a first-come, first served basis. Therefore, it is crucial to apply on the day the application portal opens, which will be announced in early 2025.
This Multistate Tax Alert summarizes some of the procedural requirements of the NJ MVP Program. [Issued: January 17, 2025] More
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