New Jersey S520 allows a gross income tax deduction for E-ZPass tolls exceeding $1,000 annually.
New Jersey S520 provides a deduction from gross income for E-ZPass tolls paid on state toll roads and interstate bridges or tunnels connecting New Jersey with another state. The deduction is limited to $1,000 per taxable year for individuals with an E-ZPass account. This deduction is available if the total tolls paid by the individual or any household member exceed $1,000 for the taxable year. The bill aims to help offset commuting costs, particularly in light of recent increases in the state gasoline tax rate.
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