Hey all. This was posted on AR15 .com.  I figured  it would be helpful to our NJ Vets. 

 

http://www.state.nj.us/treasury/taxation/military/vetexemption.shtml

Thanks! I am wondering if this only applies to vets who were honorably discharged during the 2017 tax year or anytime prior to 2017. So if I was honorably discharged in 1978 would I qualify for this?

1 hour ago, JohnnyB said:

Thanks! I am wondering if this only applies to vets who were honorably discharged during the 2017 tax year or anytime prior to 2017. So if I was honorably discharged in 1978 would I qualify for this?

Yes you do!  Any honorably discharged vet!

It's an Earned Income Credit.  Translates to about $150.  It's something, but it's not 3k.  Just a heads up.

http://www.state.nj.us/treasury/taxation/military/vetexemption.shtml

3 hours ago, Bully said:

It's an Earned Income Credit.  Translates to about $150.  It's something, but it's not 3k.  Just a heads up.

please explain.

page won't load as of right now.

1 hour ago, silverado427 said:

please explain.

I'm just mentioning what my wife told me.  It's an exemption from taxable income.  It's NOT an additional $3k added to your refund, if you're getting one.   It works out to be somewhere around $150 dollars added to your refund, if you claim it.  

My wife is a good deal more intelligent than I am.  Sorry I don't have more for you.

Example.  3000$.  20 percent tax bracket.  600$ less you have to pay.  Its simple.  Just follow the instructions on their website.