A 3233
Indexes amount of veterans' income tax exemption for inflation.
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- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill would adjust the income tax exemption available to New Jersey veterans for inflation. Currently, eligible veterans receive a $6,000 exemption. This bill proposes that this exemption amount will be increased annually based on the percentage change in the Chained Consumer Price Index (C-CPI-U), starting in tax year 2023. If the C-CPI-U does not increase, the exemption amount will remain the same.
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