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[$$] For Sale: New Jersey Tax Credits

New Jersey’s corporate tax breaks, designed to lure and keep companies in one of the country’s highest-taxed states, are sold for cash more often than they are used to lower tax bills. Like many other states, New Jersey allows companies to sell tax credits they receive in exchange for building new offices, hiring more workers or moving to the state. Most take advantage of this, with state records showing that companies—including Panasonic and Prudential Financial Inc.—have sold or transferred about 78% of the $595 million in state tax credits doled out since 2011.