S.511

Allows a gross income tax deduction for certain higher education tuition and fee expenses for taxpayers with an annual income of $85,000 or less.

New Jersey S511 allows taxpayers with an annual gross income of $85,000 or less to deduct certain higher education tuition and fee expenses paid during the taxable year. This deduction applies to expenses for the taxpayer, the taxpayer's spouse, and the taxpayer's dependents who are matriculated students at an accredited higher education institution. The bill specifies that the deduction applies to taxable years commencing after the date of enactment.