Imposes gross income tax at rate of 100 percent on amounts received by resident taxpayers from Anti-Weaponization Fund.
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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 100% gross income tax on any money received by New Jersey residents from the Anti-Weaponization Fund. The fund was established as part of a settlement in a federal lawsuit and is intended to compensate individuals allegedly harmed by government actions. The bill specifically prohibits deductions, exemptions, or credits related to income from this fund, and directs the state to administer the tax according to existing tax laws. It takes effect immediately and applies to taxable years beginning January 1, 2026.
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Sponsors
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