NJ S1519

Creates a New Jersey gross income tax deduction for all salaries, wages, and other remuneration earned by recent graduates during the two consecutive taxable years immediately following graduation

Applies to graduates of New Jersey public or nonpublic high schools and graduates with bachelor's degrees from New Jersey public or private institutions of higher education

Requires taxpayers to reside in New Jersey for the entire taxable year to claim the deduction

Allows taxpayers to claim the deduction multiple times, including once after high school graduation and again after college graduation

Takes effect for taxable years beginning on or after January 1 following enactment