New Jersey S531 establishes a gross income tax credit for taxpayers attending county colleges.
New Jersey S531 establishes a gross income tax credit for taxpayers who pay tuition and maintenance costs for dependents under 22 years attending New Jersey county colleges. The credit is $750 for full-time attendance and $375 for part-time attendance. The credit can also be claimed by taxpayers attending county college themselves, up to the same maximum amounts. The credit applies to taxable years beginning after January 1 following the bill's enactment.
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