Bill
Bill > A2535
summary
Introduced
02/14/2022
02/14/2022
In Committee
02/14/2022
02/14/2022
Crossed Over
Passed
Dead
01/08/2024
01/08/2024
Introduced Session
2022-2023 Regular Session
Bill Summary
This bill allows a gross income tax deduction of $250 for taxpayers who are on active duty as a member of the Armed Forces of the United States for the entire taxable year. According to the U.S. Department of Defense Manpower Data Center, as of September of 2017, there were a total of 7,669 active duty military personnel in the State serving in the Army, Navy, Marine Corps, Air Force, and Coast Guard. It is the sponsor's intent that the service of these men and women be recognized and that this deduction provide some assistance by potentially reducing their New Jersey Gross Income Tax liability. The bill would take effect upon enactment and apply to taxable years commencing on or after the January 1 next following the date of enactment.
AI Summary
This bill allows a $250 gross income tax deduction for taxpayers who are on active duty as members of the U.S. Armed Forces for the entire taxable year. The bill aims to recognize the service of the approximately 7,669 active duty military personnel in New Jersey and provide them with some assistance by potentially reducing their state income tax liability. The bill would take effect immediately and apply to taxable years starting on or after the January 1 following the date of enactment.
Committee Categories
Military Affairs and Security
Sponsors (3)
Last Action
Introduced, Referred to Assembly Military and Veterans' Affairs Committee (on 02/14/2022)
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/A2535 |
| BillText | https://www.njleg.state.nj.us/Bills/2022/A3000/2535_I1.HTM |
| Bill | https://www.njleg.state.nj.us/Bills/2022/A3000/2535_I1.PDF |
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