New Jersey bill A4434 doubles the gross income tax deduction for veterans from $6,000 to $12,000.

New Jersey Assembly Bill A4434 proposes to increase the gross income tax deduction for veterans from $6,000 to $12,000. This change applies to veterans honorably discharged or released under honorable circumstances from active duty in the U.S. Armed Forces, reserve components, or the National Guard of New Jersey in a federal active duty status. The bill amends the current tax code to reflect this higher deduction, effective for taxable years beginning after the date of enactment.

New Jersey bill A4434 doubles the gross income tax deduction for veterans from $6,000 to $12,000.

New Jersey Assembly Bill A4434 proposes to increase the gross income tax deduction for veterans from $6,000 to $12,000. This change applies to veterans honorably discharged or released under honorable circumstances from active duty in the U.S. Armed Forces, reserve components, or the National Guard of New Jersey in a federal active duty status. The bill amends the current tax code to reflect this higher deduction, effective for taxable years beginning after the date of enactment.