S.3930

New Jersey S3930 provides a gross income tax credit for homeschooling expenses up to $3,000 per year for eligible taxpayers.

New Jersey S3930 offers a gross income tax credit for homeschooling expenses, up to $1,000 per child or dependent, with a maximum credit of $3,000 per taxpayer per year. Eligible taxpayers must have a gross income of $150,000 or less. Qualified expenses include educational textbooks, software, curriculum rental fees, and library memberships. The credit applies to taxable years beginning on or after January 1 following the bill's enactment. Married couples filing separately can each claim half of the credit for jointly incurred expenses.