Wayne, New Jersey — A. James Romer, Jr., Managing Partner, Hunziker, Jones & Sweeney, P.A., wants New Jersey veterans to be aware of a new Veterans Exemption for which they may be eligible to receive a reduction in their income tax bills.
Details are provided on The New Jersey Division of Taxation website for 2017 and thereafter that military veterans may be eligible for a $3,000 exemption on their income tax returns if they were honorably discharged or released under honorable circumstances from active duty any time up to the last day of the tax year. Spouses or domestic partners who also served in the military are also eligible, provided they were also honorably discharged or released under honorable circumstances and they are filing a joint return. This exemption does not apply to non-veteran spouses and domestic partners.
Veterans will receive this exemption in addition to any other exemptions to which they are entitled to claim and is available to resident and nonresident returns. To claim the new exemption, veterans must provide the following documentation proving honorable discharge (they only need to provide documentation once):
- DD 214 — Certificate of Release or Discharge from Active Duty
- DD Form 256 — Discharge Certificate
- WD AGO 53 — Enlisted Record and Report of Separation Honorable Discharge
- WD AGO 53-98 — Military Record and Report of Separation Honorable Discharge
- WD AGO 55 — Honorable Discharge from the Army of the United States
- NA Form 13038 — Certificate of Military Service
- NAVCG 553 — Notice of Separation from U.S. Coast Guard
- NAVMC 78PD — U.S. Marine Corps Report of Separation
- NAVPERS 553 — Certificate of Separation/Discharge from U.S. Navy
- County Veteran ID Card — Veteran identification card issued by any of the New Jersey counties
- Federal Veteran ID Card — Veteran identification card issued under the Veterans Identification Card Act
Veterans may submit a Veteran Income Tax Exemption Submission Form to the New Jersey Division of Taxation before filing or with their New Jersey Income tax return. This may result in processing your return more quickly.
“It is important that those who served our country take advantage of this exemption that is well-deserved,” Mr. Romer says. “This exemption will help to ease their tax burden.”