New Jersey S396 allows gross income tax deductions for membership fees, dam project assessments, and potable water system assessments paid to lake.

New Jersey S396 provides gross income tax deductions for individuals who pay membership fees, dam project assessments, or potable water system assessments to lake associations in New Jersey. These deductions apply to all taxable years beginning on or after January 1 next following the enactment of the bill. A "lake association" is defined as an organization of property owners within a fixed or defined geographical area in New Jersey with rights to utilize lakefront properties not open to the general public.

New Jersey S396 allows gross income tax deductions for membership fees, dam project assessments, and potable water system assessments paid to lake.

New Jersey S396 provides gross income tax deductions for individuals who pay membership fees, dam project assessments, or potable water system assessments to lake associations in New Jersey. These deductions apply to all taxable years beginning on or after January 1 next following the enactment of the bill. A "lake association" is defined as an organization of property owners within a fixed or defined geographical area in New Jersey with rights to utilize lakefront properties not open to the general public.