Provides one-time deduction of $10,000 for certain taxpayers under GIT.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Overview
This bill proposes a one-time deduction of $10,000 for New Jersey taxpayers’ gross income. The deduction is available to married couples filing jointly and those filing as head of household or surviving spouse, provided their taxable income is not over $250,000. Single filers and estates/trusts are eligible if their taxable income is below $125,000. The goal of this legislation is to offer financial relief following the COVID-19 pandemic.
Bill text
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3 on record
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