Bill
Bill > S3563
NJ S3563
NJ S3563Increases minimum income thresholds requiring filing and paying of gross income tax.
summary
Introduced
12/04/2017
12/04/2017
In Committee
12/04/2017
12/04/2017
Crossed Over
Passed
Dead
01/08/2018
01/08/2018
Introduced Session
2016-2017 Regular Session
Bill Summary
This bill would increase the minimum income threshold at which a person becomes liable for New Jersey gross income tax and is required to file a return. Currently, a single taxpayer, an estate or trust, or a married person filing separately with a gross income of $10,000 or less is not subject to the gross income tax or required to file a return. A married coupled filing a joint return or an individual filing as head of household or as surviving spouse for federal income tax purposes with a gross income of $20,000 or less is not subject to the gross income tax or required to file a return. Under this bill, beginning in tax year 2018, these income thresholds would be increased from $10,000 to $12,000 and from $20,000 to $24,000. These income thresholds have not been increased since tax year 2001.
AI Summary
This bill would increase the minimum income threshold at which a person becomes liable for New Jersey gross income tax and is required to file a return. Currently, the threshold is $10,000 for single taxpayers and $20,000 for married couples filing jointly. Under this bill, beginning in tax year 2018, these thresholds would be increased to $12,000 and $24,000, respectively. These income thresholds have not been increased since tax year 2001.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Introduced in the Senate, Referred to Senate Budget and Appropriations Committee (on 12/04/2017)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.njleg.state.nj.us/bills/BillView.asp?BillNumber=S3563 |
| BillText | https://www.njleg.state.nj.us/2016/Bills/S4000/3563_I1.HTM |
| Bill | https://www.njleg.state.nj.us/2016/Bills/S4000/3563_I1.PDF |
Loading...