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 Senate
- Passed General Assembly
- 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 through a settlement agreement related to a legal case and is intended to provide compensation to individuals allegedly harmed by government actions. The bill specifically prohibits deductions, exemptions, or credits related to income from this fund, and directs the state’s tax administration to apply its existing laws to this new tax.
Bill text
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Document of record
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Sponsors
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3 on record
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