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NJ S737
NJ S737Excludes contributions made to certain retirement savings plans under gross income tax.
summary
Introduced
01/11/2022
01/11/2022
In Committee
02/13/2023
02/13/2023
Crossed Over
03/03/2022
03/03/2022
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
Excludes contributions made to certain retirement savings plans under gross income tax.
AI Summary
This bill excludes contributions made to certain retirement savings plans, such as 401(k) plans, qualified pension plans, 403(b) annuity contracts, 457 deferred compensation plans, the federal Thrift Savings Fund, and individual retirement accounts (IRAs), from New Jersey gross income tax. The bill specifies that the method of determining the taxable portion of a distribution from an employee trust, plan, or fund shall be the same as the method used for federal income tax purposes.
Committee Categories
Budget and Finance, Business and Industry
Sponsors (7)
Vin Gopal (D)*,
Joe Lagana (D)*,
Shirley Turner (D)*,
Tony Bucco (R),
Linda Greenstein (D),
Gordon Johnson (D),
Nellie Pou (D),
Last Action
Reported out of Asm. Comm. with Amendments, and Referred to Assembly Appropriations Committee (on 02/13/2023)
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/S737 |
| BillText | https://pub.njleg.gov/Bills/2022/S1000/737_R1.HTM |
| Analysis - Statement AFI 2/13/23 SCS S951 | https://pub.njleg.gov/Bills/2022/S1000/737_S2.PDF |
| Fiscal Estimate 3/9/22; S951 SCS | https://www.njleg.state.nj.us/Bills/2022/S1000/737_E1.PDF |
| BillText | https://www.njleg.state.nj.us/Bills/2022/S1000/737_U1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2022/S1000/737_U1.PDF |
| Statement SBA 2/28/22 SCS S951 | https://www.njleg.state.nj.us/Bills/2022/S1000/737_S1.PDF |
| BillText | https://www.njleg.state.nj.us/Bills/2022/S1000/737_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2022/S1000/737_I1.PDF |
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