WHELAN TO INTRODUCE BILL TO CREATE TAX CREDIT FOR SHORE BUSINESSES LOOKING TO REBUILD IN THE WAKE OF HURRICANE SANDY
Measure Would Allow Small Business Owners to Claim Up to $100,000 in Tax Credits
TRENTON – Senator Jim Whelan announced today he will introduce legislation to aid small businesses along the New Jersey shore in their rebuilding efforts in the aftermath of Hurricane Sandy by allowing business owners to claim a tax credit for repairs necessitated as a result of the storm.
“Small businesses are the backbone of New Jersey’s economy – providing New Jersey families with good jobs, and offering goods and services that our residents depend on – but many of these businesses along the Shore are reeling after the devastation caused by Hurricane Sandy,” said Senator Whelan, D-Atlantic. “Particularly during such a difficult economic period for the State, many business owners simply do not have the resources to rebuild. Through this legislation, we’re making a statement that rebuilding our Shore – and the businesses that are part and parcel with the Shore experience that so many New Jerseyans and visitors to our region grew up with – is the most important policy goal we can have as a state right now.”