Bill
Bill > A4911
summary
Introduced
10/17/2024
10/17/2024
In Committee
10/17/2024
10/17/2024
Crossed Over
Passed
Dead
01/12/2026
01/12/2026
Introduced Session
2024-2025 Regular Session
Bill Summary
This bill allows a gross income tax deduction for income earned in the form of tips. Under the bill, a taxpayer claiming a deduction against gross income tax for income received from customers in the form of tips is required to report that tip income in a statement to the employer pursuant to federal income tax law, or such other documentation as may be required by the Director of the Division of Taxation.
AI Summary
This bill allows a gross income tax deduction for income earned in the form of tips. Taxpayers claiming the deduction must report the tip income in a statement to their employer pursuant to federal income tax law or other documentation required by the Director of the Division of Taxation. The bill also requires the Director to adopt regulations to implement the provisions of the act, which will apply to taxable years beginning on or after January 1 following the date of enactment.
Committee Categories
Labor and Employment
Sponsors (4)
Last Action
Introduced, Referred to Assembly Labor Committee (on 10/17/2024)
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/A4911 |
| BillText | https://pub.njleg.gov/Bills/2024/A5000/4911_I1.HTM |
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