Eliminates requirement for veterans to have served in active duty status to qualify for gross income tax exemption.
This bill removes the requirement that a veteran must have served in active duty status or federal active duty status to qualify for the $6,000 veterans’ gross income tax exemption in New Jersey. Currently, a veteran must have served in active duty status to claim this exemption. The bill allows any honorably discharged or released veteran to qualify for the exemption, regardless of their active duty status. The exemption also applies to dependents, older taxpayers, and those who are blind or disabled.
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