Increases minimum income thresholds requiring filing and paying of gross income tax.

This bill increases New Jersey's income thresholds for filing state income tax returns and paying taxes. Starting in 2022, single filers (including estates and trusts) will not need to file or pay tax if their income is $12,000 or less (up from $10,000), and married couples filing jointly will have a $24,000 threshold (up from $20,000). These changes apply to individuals earning below these amounts, directly affecting low-income earners and small families who previously met the lower thresholds. The bill updates long-stagnant thresholds that had not changed since 2001.