New Jersey Offers State Tax Credit Auction
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April 28, 2026
The New Jersey Housing and Mortgage Finance Agency (NJHMFA) is auctioning $100 million in New Jersey state tax credits. The minimum bid price per tax credit is $0.80 on the dollar, and bids must be submitted by May 15, 2026.
Awarded state tax credits can be applied to the Corporate Business Tax or Insurance Premium Tax in the tax privilege period as of the date of NJHMFA’s approval, and any unused credit can be carried forward for use in the next seven tax periods.
All qualifying New Jersey businesses are encouraged to participate in this exciting tax savings opportunity, which affords New Jersey taxpayers the opportunity to realize direct, dollar-for-dollar tax reductions while supporting critical investment in the Garden State. Proceeds from each annual auction will be invested in the production of affordable and workforce housing.
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The information in this guide has been gathered from many sources, including the Internal Revenue Service, the Social Security Administration, state agencies, professional organizations and members of the NJCPA. The majority of state agencies offer online and prerecorded services. It’s best to check online or call before you visit.
Material contained within this guide should be augmented by, and used in accordance with, a certified public accountant's professional judgment. Your CPA can properly apply the tax laws and regulations to the facts and circumstances of your particular situation. For help with locating a CPA, visit findacpa.org.
The New Jersey Society of Certified Public Accountants is not responsible for any claims arising as a result of this information or its usage.
This guide was updated in September 2025. Future users of this material are cautioned that some portions, particularly tax-related information, may become outdated.