A1305

New Jersey A1305 allows a tax deduction for higher education tuition and fee expenses for taxpayers with an annual gross income of $85,000 or less.

New Jersey A1305 allows taxpayers with an annual gross income of $85,000 or less to deduct certain higher education tuition and fee expenses paid during the taxable year. The deduction applies to expenses for the taxpayer, the taxpayer's spouse, and the taxpayer's dependents who are matriculated students at accredited higher education institutions. The bill takes effect immediately and applies to taxable years commencing after the date of enactment.