This bill (S 145) creates a New Jersey state tax deduction for seniors (62+), blind, or disabled taxpayers. It allows up to $50,000 annually in deductions for qualified long-term care expenses (like in-home care, assisted living, or nursing facility services) paid for the taxpayer, their spouse, or disabled dependents. It also provides a separate $50,000 deduction for unreimbursed funeral expenses of a spouse or disabled dependent who was 62+ or disabled at death. The deduction applies only to unreimbursed expenses not already claimed under existing medical expense tax rules.
This New Jersey bill (S 1667) provides tax credits to businesses that hire and retain neurodiverse employees in qualifying STEM/AI roles. Businesses receive credits of $7,000-$9,000 per full-time employee (increasing with consecutive years of employment) or $4,500 for part-time employees, subject to a $10 million annual cap. To qualify, employees must work in approved STEM/AI fields at minimum wage and be certified as neurodiverse under state guidelines. The credits reduce corporate business tax liability, with unused credits potentially carried forward for up to seven years.
This bill extends the deadline for New Jersey taxpayers to file amended returns correcting overpayments related to military pensions or survivor benefits. It specifically ensures that taxpayers affected by errors in reporting these payments can file claims within 2 years of the required federal correction, instead of facing shorter time limits. The change directly helps military retirees and survivors who overpaid state income tax due to initial misreporting of pension income. The key mechanism clarifies that the 2-year window under existing law (N.J.S.54A:9-8(c)) applies to these specific military benefit corrections. This adjustment provides a practical administrative fix without altering tax rates or eligibility.
New Jersey's S 1204 creates tax credits for businesses hiring veterans. Companies can claim up to $1,200 per qualified veteran annually (10% of their wages) if they hire at least 25% veterans among new employees, maintain 50% retention of previously hired veterans, and provide workplace veteran support services. The credit applies to wages paid between 2020-2024 for both corporation business tax and gross income tax. It directly affects New Jersey businesses and veterans who are honorably discharged post-1965 with proof of service (e.g., DD-214 form). The bill does not cover wages already used for other state tax credits or grants.
S 1317 allows New Jersey taxpayers to deduct certain payments made to private lake associations from their gross income. Specifically, it permits deductions for membership fees, dam project assessments (for dam construction/repair), and potable water system assessments (for safe drinking water systems). This applies only to payments made to lake associations defined as private property owner groups with exclusive lake access (not open to the public). The deduction reduces taxable income for individuals who pay these specific fees to qualifying lake associations, effective for taxable years starting January 1 after enactment.
S 2015 requires most New Jersey employers to provide up to two full paid workdays for employees to attend their children's school events (like conferences or meetings), in addition to existing earned sick leave. Employers offering this benefit would receive tax credits equal to the wages paid during those days, reducing their corporate or income tax liability. The tax credits are capped at $10 million annually, with reports to the legislature on program usage. The bill is pending and would take effect in 2025.
S 2215 creates a three-year pilot program in New Jersey that allows commercial farms to claim tax credits for donating edible fruits and vegetables to qualified charities. Farms can receive a credit equal to 50% of the wholesale value of their donations (capped at $5,000 per donation period), provided they obtain written verification from the charity detailing the donation. The program is limited to $100,000 in total tax credits per fiscal year and requires farms to submit charity verification forms to the Department of Agriculture for approval. This directly affects commercial farm operators in New Jersey who donate surplus produce to eligible charities, offering a financial incentive to reduce food waste while supporting community food programs.
This bill provides New Jersey businesses with tax credits for hiring disabled veterans. Specifically, businesses receive a 15% credit (capped at $1,800 per veteran) on qualified wages paid to disabled veterans with a 30%+ VA disability rating who are hired after the bill's enactment and employed for at least 185 business days. The credit applies to wages paid between 2023 and 2026 for both corporation business tax and individual gross income tax. Businesses cannot claim this credit if the same wages are used for other state tax credits, and they must avoid displacing other employees solely to access the benefit.
This bill allows small New Jersey businesses with fewer than 20 employees to claim tax credits when they pay for their workers' health insurance premiums. Employers get up to $250 per employee for single coverage or $500 for family coverage if they pay 100% of the premium, with proportional credits for partial payments (50-99%). The health plan must meet federal Affordable Care Act standards for essential benefits. Credits cannot exceed the actual premiums paid and expire after the tax year - no carryover to future years. It applies to both corporate business tax and gross income tax credits.
S 138 allows eligible New Jersey taxpayers - including self-employed individuals, independent contractors, and employees - to deduct unreimbursed home office expenses (like computers, desks, and supplies) incurred during the pandemic. It applies specifically to home offices used as a "principal place of business" due to pandemic restrictions, meaning the home was the main work location when other options were unavailable or limited. The deduction covers costs for necessary equipment and supplies used exclusively for work, retroactively applying to taxable years during the Governor’s declared emergency (Executive Order No. 103 and extensions). This policy directly benefits workers who shifted to remote work during the pandemic but lacked employer reimbursement for home office costs.
