Allows gross income deduction for all wage income received by high school and college graduates during two consecutive taxable years following graduation from in-State school.
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Overview
This bill would allow New Jersey residents who recently graduate from high school or a college to deduct a portion of their earned income from their state income tax. Specifically, graduates would be able to claim a deduction for wages and salaries earned over two consecutive tax years following graduation, provided they live in New Jersey during those years. The bill clarifies definitions related to graduation and higher education institutions.
Bill text
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Document of record
- Version
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Sponsors
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1 on record
Primary sponsor
Joseph Cryan
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