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  • NJ A331
  • Allows gross income tax credit for certain child and dependent care expenses.
Introduced
(1/27/2016)
In Committee
(3/7/2016)
Crossed OverPassedSignedDead/Failed/Vetoed
2016-2017 Regular Session
This bill provides a nonrefundable credit against the New Jersey gross income tax for certain expenses paid for the care of a child or dependent when necessary for the taxpayer's employment. The credit is available to taxpayers who are allowed the federal child and dependant care credit and have New Jersey taxable income of $60,000 or less for the taxable year. The amount of the credit provided by this bill is a specific percentage of the taxpayer's federal child and dependent care credit and varies according to the amount of taxpayer's New Jersey taxable income as follows: NJ taxable income is: Amount of NJ credit is: Not over $20,000 50% of federal credit over $20,000 but not over $30,000 40% of federal credit over $30,000 but not over $40,000 30% of federal credit over $40,000 but not over $50,000 20% of federal credit over $50,000 but not over $60,000 10% of federal credit. The credit is capped at a maximum of $500 for expenses paid for one qualifying individual, and $1,000 for expenses paid for two or more qualifying individuals, per taxable year. Married couples must file jointly in order to claim the credit. The amount of the credit established by this bill is linked to the amount of the taxpayer's federal child and dependent care credit. The provisions of section 21 of the federal Internal Revenue Code define employment-related expenses and qualifying individual, and establish dollar limits on creditable expenses, among other things which will apply for the purposes of the State credit established by this bill. The purpose of the credit is to assist working taxpayers that incur expenses for child or dependent care services, which are often substantial.
Human Services
Reported and Referred to Assembly Appropriations Committee  (on 3/7/2016)
 
 

Date Chamber Action Description
3/7/2016 A Reported and Referred to Assembly Appropriations Committee
3/7/2016 Assembly Human Services Hearing (13:00 3/7/2016 Committee Room 16, 4th Floor)
1/27/2016 A Introduced, Referred to Assembly Human Services Committee
Date Motion Yea Nay Other
Detail 3/7/2016 Assembly Human Services Committee: Reported Favorably 4 0 2