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
Great, as long as you cut spending to replace vet taxes.
Great info, thanks. I had no idea. 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...
Something like this ought to be part of the Federal taxes.
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.
Snowflakes will scream about supporting and awarding war like they’ve done with our National Anthem.
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.
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.
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......
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.
On my taxes for last year, this change would have netted me only about $170 extra in my refund.
Thanks!
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.
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