New Jersey Tax Division Publishes Income Tax Information on Nontaxable Investment Income

The New Jersey Division of Taxation Jan. 1 published information on nontaxable investment income for individual income, corporate income, and trust income tax purposes. The publication includes information about: 1) taxable interest and gains received from debt obligations of other states and local governments; 2) capital gains or income from selling securities; 3) mutual funds and taxable and nontaxable qualified investment funds; 4) unit investment trusts; and 5) qualified state tuition program accounts and State 529A Achieving a Better Life Experience program accounts. The publication also includes a chart containing federal and state securities indicating whether interests or gains are ...