New Jersey is located in the northeastern United States, with a superior geographical location and infrastructure. It provides companies with a good environment for R&D production and international trade. For foreign companies, it is also the main gateway for products to enter the vast American market. The key investment policies and environment in New Jersey are introduced below:
New Jersey has low corporate income tax rates to attract investment
The corporate income tax rate levied by New Jersey is the lowest among the northeastern states in the United States. The tax rate is 9% of net profit value for general companies. For small businesses, it is only levied 7.5%. In addition, investments that can increase employment opportunities for enterprises that are newly established or expanded, purchase new machinery and equipment, or R&D expenses, can be deducted from corporate tax within a certain specified scope.
New Jersey provides preferential tax policies for real estate development
New Jersey provides a 50% sales tax reduction preferential policy for some specific encouraged development areas. The sales tax is only levied at a tax rate of 3%. In addition, New Jersey has four foreign trade zones, located in Port Newark/Elisabeth, Mount Olive, Port Salem and Mercer County Airport. The New Jersey state government also provides many industrial zones for businesses to choose from at low land costs.
Financial support is provided for companies investing in New Jersey
The New Jersey Economic Development Bureau provides various types of bond financing, loans and guarantees for large and small enterprises. For example, the Loan Guarantees plan is planned and implemented by the New Jersey Economic Development Bureau. Such loan guarantees generally have special considerations, such as creating a larger number of job opportunities or investing in remote areas.
In summary, New Jersey has preferential tax policies, financial support, superior infrastructure, and broad consumer market, providing a good environment for real estate and other investments. It is worth considering making investments there.