Bill Text: NJ A3782 | 2024-2025 | Regular Session | Introduced
Bill Title: Provides gross income tax deduction for residents who subscribe to New Jersey based newspapers.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced) 2024-02-22 - Introduced, Referred to Assembly Commerce, Economic Development and Agriculture Committee [A3782 Detail]
Download: New_Jersey-2024-A3782-Introduced.html
Sponsored by:
Assemblyman ROY FREIMAN
District 16 (Hunterdon, Mercer, Middlesex and Somerset)
SYNOPSIS
Provides gross income tax deduction for residents who subscribe to New Jersey based newspapers.
CURRENT VERSION OF TEXT
As introduced.
An Act providing a gross income tax deduction of $250 for a New Jersey resident who subscribes to a New Jersey based newspaper, 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. A taxpayer shall be allowed a deduction from gross income for an amount equal to $250 if the taxpayer pays for a newspaper subscription to a New Jersey based newspaper. Deductions under this section shall be due and paid for the calendar year in which the taxes are due and payable on the gross income.
b. For purposes of this section:
"Newspaper subscription" means a subscription to the print version of a newspaper, a digital-only version of a newspaper, or both print and digital versions of a newspaper paid for by the taxpayer.
"New Jersey based newspaper" means a printed or digital publication containing news, feature articles, advertisements, and correspondence that covers New Jersey and is headquartered in New Jersey.
2. This act shall take effect immediately.
STATEMENT
This bill provides a deduction from New Jersey gross income for a taxpayer who subscribes to a New Jersey based newspaper. The deduction, in the amount of $250 per taxable year, is available to an individual who subscribes to a New Jersey based newspaper.
The bill defines "newspaper subscription" as a print version of a newspaper, a digital-only version of a newspaper, or both print and digital versions of a newspaper that a New Jersey resident personally pays for. This bill additionally defines "New Jersey based newspapers" as a publication which covers New Jersey and is headquartered in the State.
