Bill Text: NJ A5124 | 2018-2019 | Regular Session | Introduced


Bill Title: Allows $250 gross income tax deduction for members of military on active duty.

Spectrum: Partisan Bill (Democrat 7-0)

Status: (Introduced) 2019-03-05 - Introduced, Referred to Assembly Military and Veterans' Affairs Committee [A5124 Detail]

Download: New_Jersey-2018-A5124-Introduced.html

ASSEMBLY, No. 5124

STATE OF NEW JERSEY

218th LEGISLATURE

 

INTRODUCED MARCH 5, 2019

 


 

Sponsored by:

Assemblyman  R. BRUCE LAND

District 1 (Atlantic, Cape May and Cumberland)

Assemblyman  MATTHEW W. MILAM

District 1 (Atlantic, Cape May and Cumberland)

Assemblywoman  CAROL A. MURPHY

District 7 (Burlington)

 

Co-Sponsored by:

Assemblymen DeAngelo, Armato and Mazzeo

 

 

 

 

SYNOPSIS

     Allows $250 gross income tax deduction for members of military on active duty.

 

CURRENT VERSION OF TEXT

     As introduced.

  


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.

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