Carry Over
Allows deduction from New Jersey gross income of certain capital gains from sale or exchange of New Jersey qualified small business stock held for more than five years.
Provides gross income tax exclusion for capital gains from sale of certain employer securities by qualified businesses that result in net positive benefit to State.
Consolidates all categories of gross income for cross-claiming of net losses and allows 20 year loss carryforward under New Jersey gross income tax; repeals alternate business income calculation.