Bill
Bill > A1740
NJ A1740
Provides gross income tax deduction for New Jersey fuel taxes paid through purchases of motor fuel for personal use of motor vehicles.
summary
Introduced
01/09/2024
01/09/2024
In Committee
01/09/2024
01/09/2024
Crossed Over
Passed
Dead
Introduced Session
2024-2025 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, up to $1,000 for the 2020 taxable year and $2,000 for each taxable year thereafter. The deduction is available to taxpayers at any income level and filing status, as long as the fuel taxes were not already reimbursed or deducted in other ways, such as through business expenses or medical expenses.
Committee Categories
Transportation and Infrastructure
Sponsors (2)
Last Action
Introduced, Referred to Assembly Transportation and Independent Authorities Committee (on 01/09/2024)
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/2024/A1740 |
| BillText | https://pub.njleg.gov/Bills/2024/A2000/1740_I1.HTM |
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