Veterans in New Jersey can now claim a gross income tax exemption without needing to have served in active duty.
This bill removes the requirement that veterans in New Jersey must have served in active duty or federal active duty status to qualify for a $6,000 veterans' gross income tax exemption. Now, honorably discharged or released veterans can claim the exemption regardless of their active duty status. The change applies to taxable years beginning on or after January 1 following the bill's enactment.
Included in complete analysis
- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
Analyze for Free
See what it does, who it affects, and the critical issues in plain language. Free, 30 seconds.