New Jersey S4732 provides a gross income tax credit for active members of volunteer emergency service organizations using their personal vehicles for.
New Jersey S4732 establishes a gross income tax credit for active members of volunteer emergency service organizations who use their personal vehicles for active duty. The credit is calculated by multiplying the standard mileage rate set by the federal Internal Revenue Service by the number of miles traveled in the performance of active duty. The maximum credit is $500 per taxpayer, or $1,000 for married individuals filing jointly. To qualify, members must complete a certain amount of active duty and ancillary duty, such as attending meetings and participating in drills.
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