New Jersey S3541 raises the minimum income thresholds for filing and paying gross income tax.
New Jersey S3541 amends the state's gross income tax law by increasing the minimum income thresholds for filing and paying tax. Beginning in tax year 2026, the income thresholds will rise from $10,000 to $12,000 for single filers and from $20,000 to $24,000 for married couples filing jointly. These thresholds have not been adjusted since tax year 2001. The bill aims to align the income thresholds with changes in the cost of living and inflation over the past decades.
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