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NJ S4542
Bill
Status
6/2/2025
Primary Sponsor
Kristin Corrado
Click for details
AI Summary
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Excludes compensation earned by college athletes for use of their name, image, or likeness (NIL) from New Jersey gross income tax
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Applies only to student-athletes participating in intercollegiate athletics at four-year institutions of higher education located in New Jersey
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Caps the tax exclusion at $100,000 per taxable year
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NIL compensation must be earned pursuant to the "New Jersey Fair Play Act" (P.L.2020, c.83) to qualify for the exclusion
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Takes effect immediately and applies to taxable years beginning on or after January 1 of the year following enactment
Legislative Description
Excludes from gross income tax certain compensation earned by college athletes for use of name, image, or likeness.
Higher Education
Last Action
Introduced in the Senate, Referred to Senate Higher Education Committee
6/2/2025