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NJ S4956
Bill
Status
12/8/2025
Primary Sponsor
Joseph Cryan
Click for details
AI Summary
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New Jersey residents who graduate from an in-state high school or in-state college/university may deduct all salaries, wages, and other remuneration from their gross income for state tax purposes for two consecutive taxable years following graduation
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Taxpayers must reside in New Jersey for the entire taxable year to claim the deduction
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The deduction can be claimed separately for both high school graduation and college graduation, allowing up to four total years of tax-free wage income for those who complete both in-state
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Qualifying higher education institutions include Rutgers, state colleges, NJIT, Rowan, Montclair State, Kean, and accredited private nonprofit colleges in New Jersey; county colleges are excluded
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Takes effect for taxable years beginning on or after January 1 following enactment
Legislative Description
Allows gross income deduction for all wage income received by high school and college graduates during two consecutive taxable years following graduation from in-State school.
Budget and Appropriations
Last Action
Introduced in the Senate, Referred to Senate Budget and Appropriations Committee
12/8/2025