New Jersey Statutes 54A:3-13. Allowable deduction in the amount of student loan principal, interest payments
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Terms Used In New Jersey Statutes 54A:3-13
- State: extends to and includes any State, territory or possession of the United States, the District of Columbia and the Canal Zone. See New Jersey Statutes 1:1-2
4. A taxpayer with gross income of $200,000 or less shall be allowed a deduction, not to exceed $2,500, from the taxpayer’s gross income for the taxable year in the amount of principal and interest payments paid on a student loan under the New Jersey College Loans to Assist State Students Loan Program established pursuant to N.J.S. 18A:71C-21
L.2021, c.128, s.4.