A 3556
Allows gross income tax deduction for employees for amounts paid by employers for certain educational assistance programs for employees and for employee's student loans.
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Sign in to take action- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill would allow New Jersey employees to deduct amounts paid by their employers for certain educational assistance programs and student loan payments from their gross income. Specifically, employers can contribute up to $5,250 per employee annually for educational expenses or student loan assistance, which would be exempt from state income tax. This deduction would be in addition to other existing tax benefits.
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