New Jersey State Bill on ESOPs Moves Forward

The New Jersey Assembly is moving forward with a state bill on ESOPs. The bill, A4021, would “Provide gross income tax exclusion for capital gains from sale of certain employer securities by qualified business that result in net positive benefit to the State.”

ESOP Association President, J. Michael Keeling, said, “This is a positive for the ESOP community and the state of New Jersey.”