New Jersey bill imposes 100% gross income tax on Anti-Weaponization Fund payments to residents.

The bill imposes a 100% gross income tax on payments from the Anti-Weaponization Fund to New Jersey residents. The fund, established by the U.S. Attorney General, is part of a settlement in a federal civil case. The bill prohibits any deductions, exemptions, or credits against this tax. The tax applies to taxable years starting January 1, 2026, and is administered under New Jersey's Gross Income Tax Act.

New Jersey bill imposes 100% gross income tax on Anti-Weaponization Fund payments to residents.

The bill imposes a 100% gross income tax on payments from the Anti-Weaponization Fund to New Jersey residents. The fund, established by the U.S. Attorney General, is part of a settlement in a federal civil case. The bill prohibits any deductions, exemptions, or credits against this tax. The tax applies to taxable years starting January 1, 2026, and is administered under New Jersey's Gross Income Tax Act.