New Jersey bill A2557 provides a gross income tax exclusion for military compensation for New Jersey residents serving outside the state.

New Jersey bill A2557 amends the state's tax code to exclude certain military compensation from gross income tax for residents who serve in the United States Armed Forces outside of New Jersey for at least six months in a taxable year. This exclusion applies to compensation paid by the United States for military service, including mustering-out payments and housing and subsistence allowances. The bill aims to provide tax relief to New Jersey residents who serve their military duty outside the state.

New Jersey bill A2557 provides a gross income tax exclusion for military compensation for New Jersey residents serving outside the state.

New Jersey bill A2557 amends the state's tax code to exclude certain military compensation from gross income tax for residents who serve in the United States Armed Forces outside of New Jersey for at least six months in a taxable year. This exclusion applies to compensation paid by the United States for military service, including mustering-out payments and housing and subsistence allowances. The bill aims to provide tax relief to New Jersey residents who serve their military duty outside the state.