Excludes contributions made to certain retirement savings plans under gross income tax.

This bill (S 1406) would amend New Jersey's tax code to exclude contributions to certain retirement savings plans from taxable gross income. It directly affects New Jersey residents who contribute to qualifying retirement accounts, such as 401(k)s or IRAs, by reducing their taxable income for state tax purposes. The key provision changes the definition of "New Jersey gross income" under N.J.S.54A:5-1 to exclude these specific retirement contributions. This would lower state tax liability for eligible taxpayers without altering federal tax treatment. The bill is currently in the introduction stage (2026) and has not yet been debated or voted on.