Bill Text: NJ A1170 | 2024-2025 | Regular Session | Introduced
Bill Title: Allows $250 gross income tax deduction for members of military on active duty.
Spectrum: Slight Partisan Bill (Democrat 2-1)
Status: (Introduced) 2024-01-09 - Introduced, Referred to Assembly Military and Veterans' Affairs Committee [A1170 Detail]
Download: New_Jersey-2024-A1170-Introduced.html
STATE OF NEW JERSEY
221st LEGISLATURE
PRE-FILED FOR INTRODUCTION IN THE 2024 SESSION
Sponsored by:
Assemblywoman CAROL A. MURPHY
District 7 (Burlington)
Assemblyman JOE DANIELSEN
District 17 (Middlesex and Somerset)
Co-Sponsored by:
Assemblywoman Matsikoudis
SYNOPSIS
Allows $250 gross income tax deduction for members of military on active duty.
CURRENT VERSION OF TEXT
Introduced Pending Technical Review by Legislative Counsel.
An Act allowing a deduction from gross income for members of the military on active duty and supplementing Title 54A of the New Jersey Statutes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. A taxpayer who is on active duty as a member of the Armed Forces of the United States for the entire taxable year shall be allowed to deduct $250 from the taxpayer's gross income for the taxable year.
2. This act shall take effect immediately and apply to taxable years commencing on or after the January 1 next following the date of enactment.
STATEMENT
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.
