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Bill > A3591
NJ A3591
NJ A3591Excludes bonuses for reenlistment or voluntary extension of enlistment in armed forces from gross income.
summary
Introduced
03/12/2018
03/12/2018
In Committee
03/12/2018
03/12/2018
Crossed Over
Passed
Dead
01/08/2020
01/08/2020
Introduced Session
2018-2019 Regular Session
Bill Summary
This bill excludes from taxable gross income under the New Jersey gross income tax certain bonuses received by members of the Armed Forces. Amounts received as bonuses for reenlisting or voluntarily extending enlistment may be excluded from gross income pursuant to this bill. The purpose of the bill is to provide tax relief to taxpayers that valiantly and unselfishly serve their country, often at considerable sacrifice to themselves and their families, by allowing them to exclude reenlistment and voluntary extension of enlistment bonuses from taxable gross income.
AI Summary
This bill excludes from taxable gross income under the New Jersey gross income tax certain bonuses received by members of the Armed Forces. Specifically, it allows members of the Armed Forces to exclude from their taxable income any bonuses they receive for reenlisting or voluntarily extending their enlistment. The purpose of the bill is to provide tax relief to military personnel who make significant sacrifices in service to their country.
Committee Categories
Military Affairs and Security
Sponsors (2)
Last Action
Introduced, Referred to Assembly Military and Veterans' Affairs Committee (on 03/12/2018)
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| BillText | https://www.njleg.state.nj.us/2018/Bills/A4000/3591_I1.HTM |
| Bill | https://www.njleg.state.nj.us/2018/Bills/A4000/3591_I1.PDF |
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