This bill provides two tax benefits: it exempts retail sales of certain school supplies, art supplies, instructional materials, computers under $3,000, and school computer supplies under $1,000 from New Jersey's sales tax when purchased by individuals for non-business use year-round (replacing a temporary back-to-school holiday). It also creates a $500 annual deduction for eligible teachers' unreimbursed classroom expenses, including items like books, pencils, computers, and lab equipment. The tax exemption applies to sales after the fourth month following enactment, while the deduction applies to taxable years starting after the next January 1. These provisions directly affect students purchasing supplies, parents buying school items, and teachers covering classroom costs.
This New Jersey bill (S 1853) provides tax credits to small business employers (fewer than 25 employees, under $1 million annual revenue) and farm employers for increased mandatory insurance costs. It allows a credit equal to the difference between current-year costs for workers' compensation, disability, and unemployment insurance versus the prior year’s costs for the same employees/wages, capped at $12,000 annually. The credit applies to corporation business tax and gross income tax filings for tax periods starting January 1, 2020, through December 31, 2029. Businesses cannot use the same costs for other tax credits or incentives during overlapping periods.
This bill establishes the Public Education Innovation Fund within New Jersey's Department of Education to provide grants to low-performing public schools for implementing educational innovation programs. Schools qualify if they meet specific academic performance thresholds based on state assessment results, such as high percentages of students scoring below proficiency in math or language arts. Businesses that donate to this fund receive tax credits - up to $10,000 annually for gross income tax, and corporation business tax credits - directly tied to their donations. The total tax credits available annually are capped at $5 million, with certifications issued on a first-come, first-served basis. The fund aims to address academic barriers through innovative strategies in schools meeting the defined performance criteria.
S 1762 establishes a "Surplus Gross Income Tax Revenue Account" within New Jersey's Property Tax Relief Fund. It requires the State Treasurer to deposit half of any unanticipated gross income tax revenue exceeding projections by more than 6% annually into this reserve. The account functions as a dedicated "rainy day fund" specifically for property tax relief programs and State Aid programs that offset local property taxes. Funds in the account can only be used for these purposes, with strict conditions for withdrawal (e.g., during revenue shortfalls or emergencies), and cannot be used to increase tax rates. This creates a mechanism to save excess tax collections for future property tax relief, directly affecting taxpayers through potential future relief programs.
This bill (S 1146) allows eligible K-12 teachers in New Jersey to deduct up to $1,200 annually from their gross income tax for unreimbursed classroom supply expenses. It directly affects public and nonpublic school teachers who personally pay for items like books, pencils, computers, lab equipment, and other daily classroom materials. The deduction applies to expenses not covered by the school district, with the $1,200 limit capping the tax benefit. The policy takes effect for taxable years beginning after the bill’s enactment date.
This bill (S 1094) amends New Jersey's tax code to allow National Guard members who are honorably discharged to claim a $6,000 annual gross income tax deduction, regardless of whether they served in federal active duty status. Previously, this deduction required proof of federal active duty service under 10 U.S.C. §1209. The change directly affects New Jersey National Guard members who served honorably but were not called to federal active duty. The key provision removes the federal active duty requirement from the deduction eligibility criteria in N.J.S.54A:3-1. This policy change ensures all qualifying National Guard members receive the same tax benefit as veterans from other military branches.
S 1440 creates a refundable gross income tax credit for New Jersey taxpayers who pay qualified union dues to labor organizations. The credit equals the full amount of union dues paid during the tax year, applied after other credits, and can result in a cash refund if it reduces tax liability to zero. It defines "qualified union dues" as dues, fees, or assessments paid to labor organizations (which include groups negotiating wages, hours, or working conditions) and requires taxpayers to verify payments to the Division of Taxation. This policy directly affects New Jersey residents who are union members or public employees represented by qualifying labor organizations.
This bill provides tax credits to New Jersey breweries and wineries for purchasing Jersey Fresh products used in production. Businesses can claim a credit equal to the cost of qualifying Jersey Fresh commodities (verified through Department of Agriculture documentation), up to $10,000 per tax period. To qualify, applicants must submit receipts, verification of Jersey Fresh purchases, and an affidavit confirming the products were used in production. Unused credits may be carried forward for up to 20 years. The credit applies to both corporation business tax and gross income tax liabilities.
This bill allows New Jersey residents with an E-ZPass account to deduct up to $1,000 annually from their gross income tax for tolls paid on eligible toll roads and bridges (including Delaware River crossings and Port Authority routes), provided total E-ZPass tolls exceed $1,000 in a year. It excludes fines, administrative fees, employer reimbursements, and tolls already deductible as business expenses under federal or state tax rules. The deduction applies to tolls paid for personal vehicles operated by the taxpayer or household members on New Jersey toll roads or connecting interstate bridges/tunnels. The bill takes effect for taxable years beginning January 1, 2020.
This bill creates a tax incentive program for New Jersey manufacturers. It allows qualifying manufacturers (those with 50 or fewer employees in good tax standing) to deduct up to $100,000 annually from their taxable income for deposits into a special "manufacturing reinvestment account." Funds in the account earn tax benefits: if used for machinery/equipment or workforce training at their New Jersey facility, the earnings are taxed at half the standard rate. The program applies for five consecutive years, with unused funds taxed at full rate after that.
