New Jersey A2657 offers a one-time $10,000 deduction for certain taxpayers affected by the COVID-19 pandemic.
New Jersey A2657 provides a one-time deduction of $10,000 from gross income for eligible taxpayers. This deduction applies to married individuals filing jointly and heads of household with a taxable income under $250,000, and to single filers with a taxable income under $125,000. The deduction is intended to offer relief in the wake of the COVID-19 pandemic. The bill allows this deduction in addition to other personal exemptions.
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