NJ S3741

Excludes tips received for services rendered (whether in cash or property) from New Jersey gross income tax by treating them as property acquired by gift

Removes "tips" from the statutory definition of taxable gross income, which currently includes salaries, wages, tips, fees, commissions, bonuses, and other remuneration

Classifies tips as exempt gifts rather than taxable income, placing them in the same tax-exempt category as property acquired by bequest, devise, or inheritance

Takes effect immediately and applies to taxable years beginning on or after January 1 following enactment