N.J. gives business a break
New Jersey will allow businesses in the state to carry operating losses forward up to 20 years in an effort to encourage growth despite the economic downturn.
New Jersey will allow businesses in the state to carry operating losses forward up to 20 years in an effort to encourage growth despite the economic downturn. “Fast-growth businesses, high-tech businesses, businesses focusing on the industries of the future inevitably sustain significant losses in the initial years of start-up, losses that can take years to recoup,” Gov. Jon Corzine said after signing the new law in November. “This legislation sends a clear message to those firms: you are welcome in New Jersey, and we will work with you so we can grow and prosper together.”
Tags: Administration Economy