New Jersey bill A4434 doubles the gross income tax deduction for veterans from $6,000 to $12,000.
New Jersey Assembly Bill A4434 proposes to increase the gross income tax deduction for veterans from $6,000 to $12,000. This change applies to veterans honorably discharged or released under honorable circumstances from active duty in the U.S. Armed Forces, reserve components, or the National Guard of New Jersey in a federal active duty status. The bill amends the current tax code to reflect this higher deduction, effective for taxable years beginning after the date of enactment.
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