Increases gross income tax deduction for veterans from $6,000 to $9,000 and adjusts for inflation.
This bill increases the gross income tax deduction available to veterans in New Jersey from $6,000 to $9,000. It also indexes the deduction for inflation, adjusting the amount annually based on the Chained Consumer Price Index for all Urban Consumers. This change applies to taxable years beginning on or after January 1, 2026.
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