Bill Text: NJ A2322 | 2022-2023 | Regular Session | Introduced
Bill Title: Excludes from gross income tax income received by student-athletes for use of their name, image, or likeness.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2022-02-07 - Introduced, Referred to Assembly Education Committee [A2322 Detail]
Download: New_Jersey-2022-A2322-Introduced.html
Sponsored by:
Assemblyman RONALD S. DANCER
District 12 (Burlington, Middlesex, Monmouth and Ocean)
SYNOPSIS
Excludes from gross income tax income received by student-athletes for use of their name, image, or likeness.
CURRENT VERSION OF TEXT
As introduced.
An Act excluding from gross income tax income received by student-athletes for use of their name, image, or likeness, supplementing Title 54A of the New Jersey Statutes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. Gross income shall not include income received by a taxpayer for licensing the taxpayer's name, image, or likeness; provided that, the income from the licensing of the taxpayer's name, image, or likeness is directly related to the taxpayer's ongoing performance as a student-athlete.
2. This act shall take effect immediately.
STATEMENT
This bill excludes from the gross income tax the income that college athletes receive for licensing their name, image, or likeness. P.L.2020, c.83 prohibits four-year institutions of higher education from preventing student-athletes from earning compensation for use of the student's name, image, or likeness. Pursuant to this bill, the compensation that college student-athletes earn from licensing their name, image, or likeness will not be subject to the State's gross income tax.
