Title 54A, Title 54A: NEW JERSEY GROSS INCOME TAX ACT

54A:6-14. Interest on certain obligations Gross income shall not include interest on obligations (1) issued by or on behalf of this State or any county, municipality, school or other district, agency, authority, commission, instrumentality, public corporation (including one creat…

54A:6-14.1. Exemption of distributions of qualified investment fund 2. Gross income shall not include distributions paid by a qualified investment fund, to the extent that the distributions are attributable to interest or gain from obligations described in N.J.S.54A:6-14. For the…

54A:6-15 Other retirement income. 3. Other retirement income. a. (1) Gross income shall not include income: for taxable years beginning before January 1, 2000, of up to $10,000 for a married couple filing jointly, $5,000 for a married person filing separately, or $7,500 for an in…

54A:6-2. Federal social security benefits All payments received under the Federal Social Security Act, whether they be regularly monthly benefits or lump sum death benefits. L.1976, c. 47, s. 54A:6-2, eff. July 8, 1976, operative Aug. 30, 1976.

54A:6-21. Contributions to certain employee trusts Gross income shall not include amounts contributed by an employer on behalf of and at the election of an employee to a trust which is part of a qualified cash or deferred arrangement which meets the requirements of Section 401(k)…

54A:6-22 Gross income exclusion. 2. Gross income shall not include payments and benefits directly received by a taxpayer under homeless persons' assistance programs, including but not limited to assistance in obtaining housing, temporary shelter and short-term financial assistanc…

54A:6-23 Commuter transportation benefits not considered gross income. 1. a. For the purposes of the "New Jersey Gross Income Tax Act," N.J.S.54A:1-1 et seq., "gross income" shall not include employer provided commuter transportation benefits as defined pursuant to section 3 of P…

54A:6-24. Cafeteria plan, qualified option, certain; not gross income 1. Gross income shall not include the value of an employee's qualified option under a cafeteria plan if the employee does not elect to receive cash and the value of the option is excludable from federal taxable…

54A:6-25 Certain earnings, distributions excluded from gross income. 13. a. Gross income shall not include earnings on a Coverdell education savings account, a qualified tuition program account, or a qualified ABLE account until the earnings are distributed from the account, at w…

54A:6-25.1 Loan redemption exempt from taxation. 12. Gross income, for the purposes of the "New Jersey Gross Income Tax Act," N.J.S.54A:1-1 et seq., shall not include amounts received as a loan redemption under the "Social Services Student Loan Redemption Program," established pu…

54A:6-25.2 Gross income, student loan debt, total, permanently disabled veterans. 1. Gross income shall not include amounts discharged through the Total and Permanent Disability discharge process of the United States Department of Education for student loan indebtedness of a taxp…

54A:6-26 Military pension, survivor's benefit payments excluded from gross income. 1. Gross income shall not include military pension payments or military survivor's benefit payments paid to individuals by the United States with respect to service in the Armed Forces of the Unite…

54A:6-27 Contributions to medical savings account not included in gross income. 5. a. Gross income shall not include contributions to a taxpayer's medical savings account that are excluded from the taxpayer's federal gross income pursuant to section 220 of the federal Internal Re…

54A:6-28 Roth IRA distributions excluded from gross income. 2. a. Gross income shall not include distributions from a Roth IRA that are qualified distributions or that are rolled over to a Roth IRA. b. "Roth IRA" means an individual retirement plan, as defined pursuant to section…

54A:6-29. Holocaust reparations, restitution excluded from gross income 1. Gross income shall not include amounts received as reparations or restitution for the loss of liberty or damage to health by the victims of National Socialist (Nazi) persecution; returns of tangible or int…

54A:6-3. Railroad retirement benefits All payments received under the Railroad Retirement Act administered by the Federal Government. L.1976, c. 47, s. 54A:6-3, eff. July 8, 1976, operative Aug. 30, 1976.

54A:6-30. Victims of September 11, 2001 terrorist attacks, income exempt from New Jersey gross income tax 1. a. Gross income shall not include the income otherwise taxable under the "New Jersey Gross Income Tax Act," N.J.S.54A:1-1 et seq., of any individual who dies as a result o…

54A:6-31 Family leave benefits not included in gross income. 16. Gross income shall not include benefits for family temporary disability leave paid pursuant to P.L.1948, c.110 (C.43:21-25 et al.) and P.L.2008, c.17 (C.43:21-39.1 et al.). L.2008, c.17, s.16.

54A:6-32 Combat zone compensation not considered gross income. 1. Gross income shall not include amounts received as combat zone compensation by members of the Armed Forces of the United States that is excluded from federal taxable income pursuant to section 112 of the federal In…

54A:6-33 Gross income, not including compensation for services performed, district board of elections. 3. Gross income, for the purposes of the "New Jersey Gross Income Tax Act," N.J.S.54A:1-1 et seq., shall not include any compensation received pursuant to R.S.19:6-9.1 and R.S.1…

54A:6-34 Gross income, certain exemptions, small business stock. 1. Notwithstanding any law or regulation to the contrary, gross income shall not include net gains or income derived from the sale, exchange, or other disposition of qualified small business stock to the extent such…

54A:6-4. Certain death benefits a. Proceeds of life insurance contracts payable by reason of death. b. Employees' death benefits, if such amounts are paid by or on behalf of an employer and are paid by reason of the death of the employee. L.1976, c. 47, s. 54A:6-4, eff. July 8, 1…

54A:6-5. Gifts and inheritances a. The value of property acquired by gift, bequest, devise or inheritance. b. Income. Subsection a. shall not exclude from gross income: 1. The income from any property referred to in subsection a. 2. Where the gift, bequest, devise or inheritance …

54A:6-6. Compensation for injuries or sickness a. Amounts received under workmen's compensation acts as compensation for personal injuries or sickness. b. The amount of damages received, whether by suit or agreement, on account of personal injuries or sickness. c. Amounts receive…

54A:6-7 Certain pay of members of the armed forces, NJNG, exemption from taxable gross income. 54A:6-7. a. Compensation paid by the United States for service in the Armed Forces of the United States performed by an individual not domiciled in this State. b. Amounts received durin…

54A:6-8. Scholarships and fellowship grants a. Any amount received as a scholarship at an educational institution. b. Any amount received as a fellowship grant. c. Any amount received to cover expenses for travel, research or equipment which are incident to a scholarship or resea…

54A:6-9.1. Gains from sale, exchange of principal residence, excludable from gross income; conditions 1. a. The gain realized from the sale or exchange of property by a taxpayer shall be excludable from the gross income of the taxpayer at the election of the taxpayer, which shall…

54A:6-9.2. Applicability of federal "Taxpayer Relief Act of 1997" 3. a. Notwithstanding the provisions of any law to the contrary, a taxpayer who elects to apply the provisions of paragraph (2) or (4) of subsection (d) of section 312 of the federal "Taxpayer Relief Act of 1997" (…