New Jersey A1482 excludes contributions to certain retirement savings plans from gross income tax.
New Jersey A1482 excludes contributions made to specific retirement savings plans from the state's gross income tax. These plans include qualified pension plans, individual retirement accounts, deferred compensation plans, federal Thrift Savings Plans, and individual retirement annuities. The exclusion applies to contributions made in taxable years beginning on or after January 1 following the bill's enactment.
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