New Jersey bill A4851 provides a gross income tax exclusion for college athletes' compensation from use of their name, image, or likeness.

New Jersey bill A4851 introduces a gross income tax exclusion for compensation earned by college athletes for the use of their name, image, or likeness. This exclusion applies to students participating in intercollegiate athletics at four-year institutions located in New Jersey. The bill aims to provide financial relief to student-athletes by excluding this income from taxable gross income. The exclusion takes effect immediately for taxable years beginning on or after January 1 of the year following the bill's enactment.

New Jersey bill A4851 provides a gross income tax exclusion for college athletes' compensation from use of their name, image, or likeness.

New Jersey bill A4851 introduces a gross income tax exclusion for compensation earned by college athletes for the use of their name, image, or likeness. This exclusion applies to students participating in intercollegiate athletics at four-year institutions located in New Jersey. The bill aims to provide financial relief to student-athletes by excluding this income from taxable gross income. The exclusion takes effect immediately for taxable years beginning on or after January 1 of the year following the bill's enactment.