Bill
A 1115
Excludes under gross income tax certain contributions to qualified pension plans, deferred compensation plans and provides deduction for certain individual retirement savings.
2024-2025 Regular Session
Introduced by Brian Bergen and 12 co-sponsors
Bill excludes retirement plan contributions from New Jersey income tax and adds deductions for individual retirement savings, reducing state tax revenue while primarily benefiting higher earners.
Introduced in the Assembly, Referred to Assembly Commerce, Economic Development and Agriculture Committee