Excludes certain Medicaid income from gross income tax in New Jersey.

This bill excludes from gross income taxation certain Medicaid income that would otherwise be taxable. It aims to incentivize physicians and medical practices to treat Medicaid patients by excluding a proportion of net income derived from New Jersey Medicaid practice. The exclusion is equal to the proportion of qualified Medicaid receipts to the total amount received for medical services at the practice. This act applies to taxable years beginning on or after January 1 following the date of enactment.

Excludes certain Medicaid income from gross income tax in New Jersey.

This bill excludes from gross income taxation certain Medicaid income that would otherwise be taxable. It aims to incentivize physicians and medical practices to treat Medicaid patients by excluding a proportion of net income derived from New Jersey Medicaid practice. The exclusion is equal to the proportion of qualified Medicaid receipts to the total amount received for medical services at the practice. This act applies to taxable years beginning on or after January 1 following the date of enactment.