New Jersey S643 allows a $3,000 deduction for surviving spouses of certain veterans on gross income tax.
New Jersey S643 introduces a gross income tax deduction for surviving spouses of qualifying veterans. This deduction amounts to $3,000 annually and applies to surviving spouses of veterans who died on active duty, were honorably discharged, or were released under honorable circumstances. The exemption is intended to provide economic relief to those who have lost a spouse in service. The bill amends N.J.S.54A:3-1 to include this new exemption, which takes effect immediately for taxable years beginning after January 1 following the enactment date.
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