The New Jersey Battlefield to Boardroom Act establishes corporation business tax credits and gross income tax credits for employers who hire qualified veterans. Specifically, the bill allows a credit equal to 10% of the qualified wages paid to a veteran, capped at $1,200 per veteran per tax year, for the period from January 1, 2020, to January 1, 2024. To qualify for these credits, employers must ensure that at least 25% of their new employees are qualified veterans and that 50% of veterans hired in the previous year remain employed. Additionally, employers are required to provide accessible veteran support services, conduct recruitment efforts for veterans and their families, and comply with the federal Uniformed Services Employment and Reemployment Rights Act, offering additional privileges beyond those mandated by federal law.

The bill also includes provisions to prevent misuse of the credits, such as prohibiting the use of the same wages for multiple tax credits and allowing the Director of the Division of Taxation to recapture credits if it is determined that an employer displaced existing employees to hire veterans solely for the purpose of obtaining the credit. The definition of a qualified veteran includes those honorably discharged from service after January 1, 1965, who provide proof of military service. The act aims to incentivize the hiring of veterans while ensuring that the credits are used appropriately and effectively.