This New Jersey bill provides tax credits for businesses and individuals who pay qualified wages to disabled veterans. It allows a 15% credit (capped at $1,800 per veteran annually) on wages paid to veterans with a 30%+ service-connected disability rating from the U.S. Department of Veterans Affairs, for sustained employment (185+ business days) during 2017-2020. The credit applies against both corporation business tax and gross income tax, with unused portions carryable forward for up to seven years. Businesses cannot claim the credit if wages are already counted toward other state tax credits or if the veteran hire appears to replace existing workers solely for the credit.
This bill allows New Jersey disabled veterans with service-connected disabilities to deduct up to $5,000 annually from their gross income for service animal expenses. Eligible costs include purchasing, training, and maintaining the animal (such as food, grooming, and veterinary care), provided these expenses aren't already deductible as medical costs under existing law. To claim the deduction, veterans must submit proof of eligibility to the Division of Taxation. The policy applies to tax years beginning January 1, 2024, and defines "disabled veteran" as a resident honorably discharged from military service with a VA-recognized disability, while "service animal" follows federal ADA standards.
This bill allows New Jersey taxpayers a state income tax deduction equal to the capital gain realized from selling certain real property interests to qualified conservation organizations. It directly affects landowners who sell property (either at full market value or for less than full value in a "bargain sale") to groups preserving land through programs like Green Acres, farmland preservation, or wildlife conservation. The deduction covers the profit from the sale portion, with specific rules for allocating costs in bargain sales where part is treated as a charitable donation. The policy aligns with federal tax treatment for conservation donations and applies to sales benefiting conservation programs.
This bill creates a tax credit for New Jersey employers who hire qualified individuals with disabilities. Employers can claim a 15% credit on wages paid to these employees (up to $2,000 per employee annually), provided the worker meets ADA criteria, works at least 35 hours weekly at $15+ per hour, and is not an independent contractor. To qualify, employers must apply for certification through the Division of Vocational Rehabilitation Services, which must approve applications within 90 days. The credit applies to both corporation business tax and gross income tax returns, with limits preventing credits from reducing tax liability below the statutory minimum.
This bill allows New Jersey taxpayers to voluntarily contribute a portion of their state income tax refund or make an additional payment when filing their tax return to support public humanities programming. The contributions would go into a new "New Jersey Council for the Humanities Fund" established within the Department of the Treasury. The state would deduct administrative costs from collected contributions before depositing the net amount into the fund. The Legislature would annually appropriate these funds to the New Jersey Council for the Humanities to provide grants for humanities programs across the state.
This bill provides tax credits for businesses purchasing hydrogen fuel cell vehicles for commercial use. Businesses can claim up to 25% of the vehicle cost (capped at $15,000) in 2023, decreasing to 8% ($5,000 cap) by 2025. To qualify, businesses must obtain certification from the Environmental Protection Commissioner confirming the vehicle meets specifications and is used exclusively for business operations. The credits apply against both New Jersey's corporation business tax and gross income tax.
This bill creates a new exclusion from New Jersey's gross income tax and corporation business tax for certain small business income. It directly affects qualifying small businesses by allowing them to exclude specific income from their taxable base under these two tax codes. The key mechanism establishes a defined exclusion for small business income while revising statutory definitions related to tax calculations, such as "net worth" and "taxpayer." The bill does not specify exact income thresholds but provides the framework for excluding qualifying small business revenue from state taxation.
New Jersey's bill A 3913 creates a tax credit program to incentivize employers to hire military spouses affected by frequent relocations. Employers who hire nonresident military spouses (spouses of active-duty service members transferred to New Jersey, legally domiciled here, or on permanent change-of-station) can claim a tax credit equal to 15% of wages for 120-400 hours worked or 25% for over 400 hours annually, capped at $2,400 per employee. The credit reduces the employer's corporation business tax or gross income tax liability. This policy directly supports military spouses whose careers are disrupted by service-related moves, aiming to improve their employment stability.
This bill adds a $6,000 gross income tax deduction for surviving spouses of veterans who meet specific criteria. It directly affects surviving spouses of veterans who died while on active duty, were honorably discharged, or were released under honorable circumstances from military service. To qualify, the spouse must have been married to the veteran at death, lived with them continuously (with limited exceptions), and not remarried or cohabited as a couple (with exceptions for void marriages, annulled marriages, or remarriage after age 57). The deduction applies to taxable years beginning after the bill's effective date and is added to New Jersey's existing tax code.
This New Jersey bill (A-569) would exclude certain retirement savings plan contributions, withdrawals, and rollovers from state income tax calculations. It directly affects New Jersey residents who use retirement accounts like 401(k)s or IRAs, as these transactions would no longer be counted toward their taxable income. The key mechanism is amending the state's gross income definition to explicitly exempt these retirement-related transactions from taxation. This change would reduce the taxable income of qualifying retirement account holders without altering federal tax treatment.
