A2800

New Jersey A2800 allows a gross income tax deduction for fuel taxes paid on motor fuel for personal vehicle use.

New Jersey A2800 provides a gross income tax deduction for New Jersey fuel taxes paid on purchases of motor fuel for personal use of motor vehicles. This deduction is available to all taxpayers, regardless of income level or filing status. The deduction is capped at $1,000 for the 2020 taxable year and $2,000 for each taxable year beginning after January 1, 2021. The deduction is not available if the amount is reimbursed by an employer, deductible in other tax contexts, or paid out of a medical savings account. The bill applies to purchases made on and after January 1, 2020.