Provides gross income tax exclusion for attorney's fees and costs received in connection with certain unlawful discrimination, unlawful retaliation, and qui tam claims or actions.
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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 to allow New Jersey residents to deduct attorney’s fees and related costs from their gross income if those fees were incurred as a result of specific legal actions. These actions include claims or lawsuits related to unlawful discrimination, unlawful retaliation, or qui tam lawsuits – which are lawsuits filed by a whistleblower against wrongdoing within a company. The goal is to provide financial support to individuals who have experienced these types of legal issues and faced significant legal expenses.
Key provisions
- Allows a deduction for attorney’s fees.
- Attorney’s fees must be related to unlawful discrimination claims.
- Attorney’s fees must be related to unlawful retaliation claims.
- Attorney’s fees must be related to qui tam lawsuits.
- Costs associated with these legal actions are also deductible.
Who is affected
- New Jersey residents
- Individuals who have experienced discrimination or retaliation
- Whistleblowers
- Attorneys
- Legal professionals
Notable changes
- Creates a new tax deduction for specific legal fees.
- Expands the types of legal claims eligible for the deduction.
Fiscal impact
The fiscal impact of this bill is uncertain and would depend on the number of individuals who utilize this deduction.
Bill text
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Sponsors
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1 on record
Primary sponsor
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