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[New Jersey] Income Tax Exemption for Veterans - 2017 tax year
NJ Division of Taxation ^ | 11/9/17 | NewJerseyJoe

Posted on 12/04/2017 12:47:26 PM PST by NewJerseyJoe

The state of New Jersey is doing a non-existent job of publicizing this new tax exemption for veterans, so I'm trying to spread the word.

http://www.state.nj.us/treasury/taxation/newexemptionveterans.shtml


TOPICS: Government; Local News; Politics
KEYWORDS: exemption; incometax; newjersey

1 posted on 12/04/2017 12:47:27 PM PST by NewJerseyJoe
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To: NewJerseyJoe

Great, as long as you cut spending to replace vet taxes.


2 posted on 12/04/2017 12:51:59 PM PST by sparklite2 (I hereby designate the ongoing kerfuffle Diddle-Gate.)
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To: NewJerseyJoe

Great info, thanks. I had no idea. Is this new?


3 posted on 12/04/2017 12:56:49 PM PST by Jim Pelosi
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To: Jim Pelosi
>> Is this new?

It's a new exemption, yes. It was part of the (raw) deal that raised our gas taxes last year. I guess most people were like me -- I never imagined that there could be anything GOOD hidden inside a tax increase, so why bother reading the fine print?

However, I wouldn't be surprised if the new commie governor coming in tries to undo this for the following tax year...

4 posted on 12/04/2017 1:01:45 PM PST by NewJerseyJoe (Rat mantra: "Facts are meaningless! You can use facts to prove anything that's even remotely true!")
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To: NewJerseyJoe

Something like this ought to be part of the Federal taxes.


5 posted on 12/04/2017 1:07:47 PM PST by Little Pig
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To: NewJerseyJoe

Veterans should get a free ride at tax time. Veterans should pay social security pay roll tax and that’s it. No income tax for life.


6 posted on 12/04/2017 1:10:32 PM PST by central_va (I won't be reconstructed and I do not give a damn.)
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To: NewJerseyJoe

Snowflakes will scream about supporting and awarding war like they’ve done with our National Anthem.


7 posted on 12/04/2017 1:33:57 PM PST by SkyDancer ( ~ Just Consider Me A Random Fact Generator ~)
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To: central_va

WW2 Veterans who served overseas should not have to pay taxes. Not too many remain. Because of their age, they have tons of medical bills and care giver needs. The greatest generation.


8 posted on 12/04/2017 1:49:47 PM PST by topspinr
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To: NewJerseyJoe

National Guard members receive a DD-214 after graduating from initial training. Does that count in New Jersey? Some have been told the time in initial training (Basic and AIT or OSUT) is active duty, but some online explanations on civilian web sites have been written to exclude any and all National Guard service.


9 posted on 12/04/2017 2:20:14 PM PST by familyop ("Welcome to Costco. I love you." --Costco greeter in the movie, "Idiocracy")
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To: NewJerseyJoe
Thanks - heard it was out there somewhere, but hadn't heard the details - certainly worth applying for -

Now if I can just find out what the upper limit on pension deductions is, I'll be really happy - for last year it was 20k possible deduction as long as one didn't earn over 100k for the whole year, otherwise no deduction at all - the gas-tax raise bill included a provision that upped the deduction by 20k per year until a total deduction of 100k was to be allowed, but last I checked the upper limit hadn't been changed, so that one could eventually deduct a pension of 100k as long as one didn't earn one dollar over 100k for the entire year (like maybe with a little CD interest or IRA distribution), in which case nothing - our state legislature at work - I'm presuming it will be adjusted eventually if it hasn't been already, but when and where, who knows......

10 posted on 12/04/2017 2:22:21 PM PST by Intolerant in NJ
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To: familyop
from article OPINION: Tax exemption is good news for veterans

As used in Chapter 3, Title 38A of the New Jersey Statute: (b) “veteran” means any person who has served in any branch of the armed forces of the United States for at least 90 days.

I was active duty, so I don't know a lot about the Guard/Reserves. But there's more than just basic training, right? Don't you have some initial period of service (a few months?) before you are released to Active Reserve status?

Seems to me that, if you received a DD-214 and Box 24 reads "Honorable," you should qualify for the exemption.

11 posted on 12/04/2017 2:36:39 PM PST by NewJerseyJoe (Rat mantra: "Facts are meaningless! You can use facts to prove anything that's even remotely true!")
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To: sparklite2
It doesn't amount to a lot of money -- keep in mind, it's a $3,000 exemption, not a $3,000 credit. It lowers the vet's taxable income by an additional $3,000.

On my taxes for last year, this change would have netted me only about $170 extra in my refund.

12 posted on 12/04/2017 2:42:19 PM PST by NewJerseyJoe (Rat mantra: "Facts are meaningless! You can use facts to prove anything that's even remotely true!")
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To: NewJerseyJoe

Thanks!


13 posted on 12/04/2017 3:59:34 PM PST by familyop ("Welcome to Costco. I love you." --Costco greeter in the movie, "Idiocracy")
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To: NewJerseyJoe

I’m not in New Jersey, but it’s still important to many others around the country. And yes, in my case, the DD214 was for 13 weeks of One Station Unit Training at Ft. Leonard Wood (before going to a National Guard home unit for a few years). Don’t know if it said “honorable.” Will have a look at it.

I’m guessing that VA reps will know the answer, too. Thanks again.


14 posted on 12/04/2017 4:03:38 PM PST by familyop ("Welcome to Costco. I love you." --Costco greeter in the movie, "Idiocracy")
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To: familyop
National Guard members receive a DD-214 after graduating from initial training. Does that count in New Jersey? Some have been told the time in initial training (Basic and AIT or OSUT) is active duty, but some online explanations on civilian web sites have been written to exclude any and all National Guard service.

Yes, it is active duty time. It counts for retirement points, and is included as active time for education benefits, if you have enough other active time.

For other veteran's benefits, it can go either way. Most places consider you a veteran if you served and were honorably discharged. Some veteran's statuses require deployments or certain amounts of active duty time.

Then, there is also active duty service within the Guard, that isn't federal deployments. AGR (Active Guard and Reserve) are full-time active duty jobs that are filled by soldiers who run most of the day-to-day operations for each unit. ADOS (Active Duty - Operational Support) orders can come out when a unit needs people to assist with performing certain tasks, such as equipment transfers, major inventories, or other duties. (Most of the time this is just mutas or other pay methods, since they're cheaper.) Any orders over 30 days are generally going to be some form of active duty orders.
15 posted on 12/05/2017 7:20:18 AM PST by Svartalfiar
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