S.1482

Expands eligibility for New Jersey's child and dependent care expenses tax credit and increases the credit amount.

The bill expands eligibility for the New Jersey gross income tax credit for child and dependent care expenses. It increases the amount of the credit available to taxpayers and extends eligibility to married individuals filing separately who meet specific criteria. The bill raises the income eligibility limit to $250,000 for married couples filing jointly or individuals filing as head of household or surviving spouse. For other filing statuses, the income limit remains at $150,000. The credit amount is now a higher percentage of the federal credit for various income brackets.