S 2095 New Jersey Senate · 2024-2025 Regular Session

Provides gross income tax deduction for certain moving expenses for taxpayer moving to New Jersey to commence work in State.

This New Jersey bill (S 2095) allows residents who move to the state to start a new job to deduct certain moving costs from their state income tax. It covers reasonable expenses like moving household goods, travel (excluding meals), and storage for the taxpayer and their household members (defined as those sharing the old and new home). To qualify, taxpayers must work full-time for at least 39 weeks in the first year or 78 weeks over two years (with 39 in the first year) at their new job location. Exceptions exist for death, disability, or involuntary job loss unrelated to misconduct.
Sub-Topics: Income Tax
Bill status in committee 1 of 4 stages cleared
Introduction
Jan 2024
Committee Review
Floor Vote
Governor
Introduced Jan 9, 2024 Last action Jan 9, 2024
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Jan 9, 2024
Introduced
Introduced in the Senate, Referred to Senate Economic Growth Committee
upper
1 primary · 0 co-sponsors

Sponsors

Role
Legislator
Party
State
District
P
Photo of Holly Schepisi
Holly Schepisi
RRepublican
NJ
39