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Committee releases A4455 to align New Jersey capital-gains treatment for qualified small business stock with federal rules
Summary
A4455, as amended, would allow deductions from New Jersey gross income for certain capital gains from qualified small business stock held more than five years; the committee amended calculation rules and released the bill after testimony from business groups and investors urging parity with other states.
The Assembly Appropriations, State and Local Committee released A4455 (first reprint), which would allow deductions from New Jersey gross income for certain capital gains from the sale or exchange of New Jersey qualified small business stock held for more than five years and would revise how the maximum allowable deduction is calculated.
The committee adopted amendments that change the calculation of the maximum allowable deduction and adjusted the definition of "qualified small business" by removing a minimum…
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