Allows gross income tax deduction for sales and use tax and societal benefits charges on electric and gas utility bills.

New Jersey A5230 allows taxpayers to deduct from their gross income the sales and use tax and societal benefits charges paid on electric and natural gas utility bills for their principal residence during the taxable year. The bill also requires electric and natural gas public utility suppliers to separately state the amount of the tax imposed by the “Sales and Use Tax Act” and the amount of the societal benefits charge on the customer’s periodic electric and gas utility bills.

Allows gross income tax deduction for sales and use tax and societal benefits charges on electric and gas utility bills.

New Jersey A5230 allows taxpayers to deduct from their gross income the sales and use tax and societal benefits charges paid on electric and natural gas utility bills for their principal residence during the taxable year. The bill also requires electric and natural gas public utility suppliers to separately state the amount of the tax imposed by the “Sales and Use Tax Act” and the amount of the societal benefits charge on the customer’s periodic electric and gas utility bills.