Bill
Bill > A724
NJ A724
Provides gross income tax deduction for New Jersey fuel taxes paid through purchases of motor fuel for personal use of motor vehicles.
summary
Introduced
01/11/2022
01/11/2022
In Committee
01/11/2022
01/11/2022
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
This bill provides a New Jersey gross income tax deduction for all New Jersey State fuel taxes that are paid by taxpayers on purchases of motor fuel for the operation for personal use of the taxpayer's motor vehicles and not otherwise reimbursed. Under the bill, the gross income tax deduction is allowed for taxpayers at any income level and in any filing status, and is capped at $1,000 for the 2020 taxable year and at $2,000 for each taxable year beginning thereafter.
AI Summary
This bill provides a New Jersey gross income tax deduction for all New Jersey State fuel taxes paid by taxpayers on purchases of motor fuel for the personal use of their motor vehicles and not otherwise reimbursed. The deduction is available to taxpayers at any income level and filing status, and is capped at $1,000 for the 2020 taxable year and $2,000 for each taxable year thereafter. The deductible "New Jersey taxes paid on purchases of motor fuel" refers to the taxes imposed under the Petroleum Products Gross Receipts Tax Act and the Motor Fuel Tax Act.
Committee Categories
Transportation and Infrastructure
Sponsors (2)
Last Action
Introduced, Referred to Assembly Transportation and Independent Authorities Committee (on 01/11/2022)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bill-search/2022/A724 |
| BillText | https://www.njleg.state.nj.us/Bills/2022/A1000/724_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2022/A1000/724_I1.PDF |
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