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NJ S4503

Bill

Official Source

Status

Introduced

5/22/2025

Primary Sponsor

Paul Sarlo

Click for details

Origin

Senate

2024-2025 Regular Session

AI Summary

  • Exempts from New Jersey gross income tax any capital gains from the sale, exchange, or disposition of qualified small business stock
  • The exemption applies only to gains that are already exempt from federal taxation under Internal Revenue Code Section 1202
  • Section 1202 generally allows exclusion of up to 100% of gains on qualifying small business stock held for more than 5 years, subject to certain limits
  • Takes effect immediately and applies to taxable years beginning on or after January 1 following enactment

Legislative Description

Allows exemption from New Jersey gross income of certain capital gains from sale or exchange of qualified small business stock.

Substituted by another Bill

Last Action

Substituted by A4455 (ACS/1R)

6/30/2025

Committee Referrals

Economic Growth5/22/2025

Full Bill Text

No bill text available