Loading chat...
NJ S3780
Bill
Status
10/10/2024
Primary Sponsor
Jon Bramnick
Click for details
AI Summary
-
Excludes from New Jersey gross income tax any distributions from traditional IRAs made directly to qualified charitable organizations
-
Adds charitable distributions to the list of qualified distributions from Roth IRAs that are exempt from state income tax
-
Defines "qualified charitable organization" as any organization with 501(c)(3) tax-exempt status from the IRS, including charitable, religious, scientific, literary, and educational organizations
-
Takes effect immediately and applies to taxable years beginning on or after January 1 of the year following enactment
Legislative Description
Provides gross income tax exclusion for distributions from individual retirement accounts to qualified charitable organizations.
State Government, Wagering, Tourism & Historic Preservation
Last Action
Introduced in the Senate, Referred to Senate State Government, Wagering, Tourism & Historic Preservation Committee
10/10/2024