Allows gross income tax deductions totaling $300,000 over five taxable years for certain primary care physicians in New Jersey.

New Jersey A2445 allows gross income tax deductions totaling $300,000 over five taxable years for qualified primary care physicians. To qualify, a physician must practice family medicine, general internal medicine, general pediatrics, or general obstetrics or gynecology in the state. The deduction starts at $100,000 in the first year and decreases by $20,000 each subsequent year, provided the physician maintains a qualified New Jersey professional practice for the five years. If the physician does not maintain the practice, they must repay the full amount of the gross income tax liability.

Allows gross income tax deductions totaling $300,000 over five taxable years for certain primary care physicians in New Jersey.

New Jersey A2445 allows gross income tax deductions totaling $300,000 over five taxable years for qualified primary care physicians. To qualify, a physician must practice family medicine, general internal medicine, general pediatrics, or general obstetrics or gynecology in the state. The deduction starts at $100,000 in the first year and decreases by $20,000 each subsequent year, provided the physician maintains a qualified New Jersey professional practice for the five years. If the physician does not maintain the practice, they must repay the full amount of the gross income tax liability.