New Jersey 2024-2025 Regular Session

New Jersey Senate Bill S598

Introduced
1/9/24  

Caption

Allows $250 gross income tax deduction for members of military on active duty.

Impact

If enacted, this bill would modify the state's current tax laws to incorporate a specific financial consideration for active duty military members. The gross income tax deduction would allow eligible service members to lower their taxable income, thereby decreasing their overall New Jersey tax liability. This move is aimed at highlighting the state’s commitment to supporting military personnel, contributing to a broader initiative of recognizing their contributions while they serve the nation.

Summary

Senate Bill 598, introduced in the New Jersey Legislature, proposes a gross income tax deduction of $250 for taxpayers who are active duty members of the Armed Forces. This bill is designed to recognize and provide some financial relief for the approximately 7,669 active duty military personnel residing in New Jersey across various branches including the Army, Navy, Marine Corps, Air Force, and Coast Guard. The intention is to acknowledge the service of these individuals while potentially easing their overall tax burden under New Jersey's tax code.

Contention

While the bill's intent is to provide benefit and support to active military personnel, it may lead to discussions regarding the equitable treatment of different groups within the state's tax system. Points of contention may arise from whether specific deductions for military personnel create disparities among other taxpayer groups or if they sufficiently address the financial challenges faced by those in service. Concerns could also emerge regarding the long-term fiscal impact on New Jersey's budget and tax structure, as such benefits may lead to a decrease in tax revenues.

Companion Bills

NJ A1170

Same As Allows $250 gross income tax deduction for members of military on active duty.

NJ S90

Carry Over Allows $250 gross income tax deduction for members of military on active duty.

NJ A2535

Carry Over Allows $250 gross income tax deduction for members of military on active duty.

Previously Filed As

NJ S90

Allows $250 gross income tax deduction for members of military on active duty.

NJ A1170

Allows $250 gross income tax deduction for members of military on active duty.

NJ A2535

Allows $250 gross income tax deduction for members of military on active duty.

NJ S643

Allows gross income tax deduction for surviving spouses of certain veterans.

NJ A4198

Excludes basic pay received for active duty military service from gross income taxation.

NJ A4349

Excludes from New Jersey gross income tax income of certain related survivors of members of United States military who die in active duty.

NJ S627

Excludes military compensation of military personnel serving outside of this State from gross income tax.

NJ S115

Eliminates veterans' gross income tax deduction requirement that New Jersey National Guard member serve in federal active duty status.

NJ S1995

Eliminates veterans' gross income tax deduction requirement that New Jersey National Guard member serve in federal active duty status.

NJ A2392

Eliminates veterans' gross income tax deduction requirement that New Jersey National Guard member serve in federal active duty status.

Similar Bills

No similar bills found.