Who? Why? When?
Who? Any business Located in the Zone
- Sole Proprietorships
- Limited Partnerships
- Limited Liability Corporations
- Any business Type & Classification; Any business Size
Why? bottom-Line Savings
- Sales and Use Tax Exemptions on Specific Purchases, Rentals, Leases and Services for your business Location; a 6% Savings!
- Reduced Sales Tax Collection for Retailers. Offer your customers a 3% savings on most NJ taxable items, without any impact on your profit margins.
- New Employee Tax Credits. One-time Corporate deductions of either $1,500 or $500, as applicable.
- Unemployment Insurance-based Awards (Rebates)
- Preferred Financing and Training, Utility Rates, and Regulatory Assistance.
When? Anytime, Now
- Whenever you want to take advantage of UEZ incentives.
- When a lease or property deed is signed.
- Anytime your business decides to seize an added degree of superiority.
- Whenever your business believes it's time to save money
How to become a member
How does a business become certified as a qualified Urban Enterprise Zone business?
A business, located within designated Zone boundaries, must make application through the Local Zone Coordinator, who in turn submits the application to the Authority in Trenton for review and approval.
What does it take to fill out an application?
- Complete a Certification Application.
- List Full & Part Time Employees presently on payroll.
- Complete a REG-1 Form to ensure NJ Registration.
- Complete a UZ-1 Form, whether or not your business is applying for the reduced Sales Tax benefit.
- Sign and date all documents.
- Include supplementary information, as may be required in the Certification Instructions.
- Mail the Certification package to the KUEZ Office.
* No Fees, No Charges, Just a Bit of Time
What preliminary tests are used by the Authority to decide whether a business shall be certified?
- The applying business must be engaged in the active conduct of a trade or business within Zone boundaries, and if the business was started after zone designation, it must have at least 25% of its new hires employed at the Zone business location meet one or more employment tests.
- A new business formed, or moving, to the Zone, after it was designated, must have at least 25% of its new full-time workforce, hired during its first or second year in the program, meet certain criteria.
- New employees must meet one or more of the following criteria:
- Residents within the Zone, a Zone-impacted district, or within another qualifying Zone
- Unemployed for at least six months prior to being hired and residing in NJ.
- Recipients of NJ public assistance programs for at least six months prior to being hired; or
- Determined to be low-income individuals pursuant to the Workforce Investment Act of 1998.
* It may be determined by the Authority that the applicant business is unable, in good faith, to meet the 25% requirement, and it may, in turn, agree to allow the business to implement and/or sponsor certain specific training and job programs for a period of at least five years.
When can a business owner receive tax benefits in an UEZ?
Benefits are effective only from the date of certification within the designated Zone by the Authority. Tax exempt certificates, and as applicable to retailers, an effective UZ-2, are then issued by the Division of Taxation, effective on the date of the certification. There are not any retroactive tax benefits. Renewal of qualified business status must be made annually.