New Jersey § 52:27h-76

§ 52:27h-76.

Any qualified business subject to the provisions of the “Corporation Business Tax

Act (1945),” P.L.1945, c. 162 ( C. 54:10A-1 et seq. ), as employing a larger number of persons at a place of business located within an

enterprise zone designated pursuant to this act than at all other places of business

of the taxpayer within the State, shall be exempt from the net worth tax imposed pursuant

to subsection (a) of section 5 of P.L.1945, c. 162 ( C. 54:10A-5(a) ), and from the tax imposed by subsection (f) of that section ( C. 54:10A-5(f) ), for a period of 20 tax years from the date of designation of the enterprise zone,

or for a period of 20 tax years from the date upon which the taxpayer is first subject

to the provisions of the “Corporation Business Tax Act (1945),” P.L.1945, c. 162 ( C. 54:10A-1 et seq. ), whichever date is later. The termination of the designation of an enterprise zone at the end of a 20 year

designation period shall not terminate the exemption provided under this section if

the exemption was granted prior to the end of the designation period. The provisions of this section are subject to the phase-out provisions of P.L.1982,

c. 55 ( C. 54:10A-4 et seq. ).