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Income Tax Exemption for Veterans
New for Tax Year 2017
There is good news for the nearly 500,000 veterans living in New Jersey.
The $3,000 tax exemption would apply to any New Jersey taxpayer who is “a veteran honorably discharged or released under honorable circumstances from active duty in the Armed Forces of the United States, a reserve component thereof, or the National Guard of New Jersey in a federal status.” Mr. Woods further mentioned that this designation of a veteran is based upon the definition as defined under New Jersey statute N.J.S.A 38A. 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.
You can certify for the exemption by sending a copy of your DD-214 and Veteran Exemption Submission Form to the Division before you file, which may help process your return faster.