A 4871
Allows gross income tax deduction for charitable contributions made to nonprofit entities supported by State funds or subsides.
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Sign in to take action- Introduced
- Passed General Assembly
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill allows New Jersey taxpayers to deduct charitable contributions made to nonprofit organizations that receive funding or subsidies from the state. The deduction is capped at $10,000 for married couples filing jointly or those filing as heads of household, and $5,000 for other taxpayers. The bill also defines ‘economic development subsidy’ to clarify which financial assistance qualifies for the deduction.
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