Tax Incentives

New Jersey — A 16% to 20% credit against New Jersey’s corporate business tax for owners of income-producing historic properties could become another tool to help finance flood-risk reduction projects.  Flood-prone communities with National Register historic buildings could add a state historic preservation tax credit to other funding sources to increase the benefit-cost ratio of a storm-management project.  Gov. Murphy and key legislators are promoting the Historic Preservation Tax Credit Program Act in a package of tax incentives.