New Jersey S4405 imposes a 100% gross income tax on amounts received from the Anti-Weaponization Fund.

New Jersey S4405 imposes a 100% gross income tax on any money received by state residents from the Anti-Weaponization Fund. This fund was established by the U.S. Attorney General as part of a settlement in a federal civil case. The bill prohibits any deductions, exemptions, exclusions, or credits against this tax. The tax applies to all monies received from the fund and is administered under the New Jersey Gross Income Tax Act. The act takes effect immediately and applies to taxable years beginning on or after January 1, 2026.

New Jersey S4405 imposes a 100% gross income tax on amounts received from the Anti-Weaponization Fund.

New Jersey S4405 imposes a 100% gross income tax on any money received by state residents from the Anti-Weaponization Fund. This fund was established by the U.S. Attorney General as part of a settlement in a federal civil case. The bill prohibits any deductions, exemptions, exclusions, or credits against this tax. The tax applies to all monies received from the fund and is administered under the New Jersey Gross Income Tax Act. The act takes effect immediately and applies to taxable years beginning on or after January 1, 2026.