Allows gross income tax deduction for employment-related childcare expenses.

New Jersey Assembly Bill 5514 allows taxpayers to deduct employment-related childcare expenses from their gross income, specifically covering costs for dependents under age 13. The bill defines these expenses similarly to federal tax law but excludes household services like cooking or cleaning. To prevent double benefits, the legislation prohibits claiming a deduction for any expense that is already covered by the existing state dependent care tax credit. This provision applies to taxable years beginning on or after January 1 of the year following the bill's enactment.