Bill Text: NJ A2600 | 2024-2025 | Regular Session | Introduced
Bill Title: Allows resident taxpayers to deduct from gross income fifty percent of amount paid through E-ZPass for NJTA tolls.
Spectrum: Partisan Bill (Democrat 4-0)
Status: (Introduced) 2024-01-09 - Introduced, Referred to Assembly Transportation and Independent Authorities Committee [A2600 Detail]
Download: New_Jersey-2024-A2600-Introduced.html
STATE OF NEW JERSEY
221st LEGISLATURE
PRE-FILED FOR INTRODUCTION IN THE 2024 SESSION
Sponsored by:
Assemblyman ROBERT J. KARABINCHAK
District 18 (Middlesex)
Co-Sponsored by:
Assemblywoman Haider, Assemblyman Calabrese and Assemblywoman Park
SYNOPSIS
Allows resident taxpayers to deduct from gross income fifty percent of amount paid through E-ZPass for NJTA tolls.
CURRENT VERSION OF TEXT
Introduced Pending Technical Review by Legislative Counsel.
An Act allowing resident taxpayers to deduct from gross income fifty percent of the amount paid through electronic tolling systems for NJTA tolls, supplementing Title 54A of the New Jersey Statutes.
Be It Enacted by the Senate and General Assembly of the State of New Jersey:
1. a. A resident taxpayer shall be allowed to deduct from gross income fifty percent of the amount the taxpayer paid through E-ZPass, or other electronic toll collection systems, for New Jersey Turnpike Authority tolls.
b. For purposes of calculating the deduction, a taxpayer shall not include amounts:
(1) paid as a fine, penalty, or other payment made for a violation of a toll;
(2) paid as an administrative fee, processing fee, or other payment for the purpose of establishing an electronic toll collection system account, acquiring electronic toll collection system equipment, or other administrative purpose;
(3) reimbursed to the taxpayer by or for the taxpayer's employer;
(4) deductible in determining net profits from business pursuant to subsection b. of N.J.S.54A:5-1, even if not so deducted;
(5) deductible in determining distributive share of partnership income pursuant to subsection k. of N.J.S.54A:5-1, even if not so deducted; and
(6) deductible in determining net pro rata share of S corporation income pursuant to subsection p. of N.J.S.54A:5-1, even if not so deducted.
2. This act shall take effect immediately and apply to taxable years beginning January 1 next following enactment.
STATEMENT
This bill allows resident taxpayers to deduct from gross income fifty percent of amount paid through E-ZPass or another electronic tolling system for New Jersey Turnpike Authority (NJTA) tolls.
The NJTA tolls are the tolls on the NJ Turnpike and the Garden State Parkway.
A taxpayer may not include in the calculation of the deduction any amount paid through E-ZPass for fees or fines. Amounts that are reimbursed to the taxpayer or that are otherwise deductible under certain provisions of State law also cannot be included in the calculation of the deduction.
