New Jersey Exempts Certain Capital Gains from Income Tax

The New Jersey Governor signed a law that includes permitting an exemption from gross income for capital gains or income derived from the sale or exchange of qualified small business stock (QSBS) to the extent that such gains or income are exempt pursuant to I.R.S. Section 1202. The law took effect on June 30, and applies to taxable years beginning on or after the Jan. 1 next following the date of enactment. [A. 4455, enacted 06/30/25]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.