Grant funding will be available to families with incomes above $160,000, as the income threshold will increase with additional family members. For example, for a family of four, the new OSAP will provide non-repayable aid to students from families with annual incomes up to $175,000.
The new grant was designed to cover average tuition costs for all those under $50,000 of family income (or $30,000 for independent students) regardless of assessed need, with a sliding scale above that up to $160,000 receiving 30% of tuition costs.
New Jersey does not allow you to deduct moving expenses or employee business expenses from wages, although you can exclude reimbursements for certain expenses if they are included in wages on your W-2.
Commonly grouped together as Unemployment Insurance (UI), Workforce Development Partnership Fund (WF) and Supplemental Workforce Fund (SWF). These contributions are withheld from your wages by your employer. Your employer may report these contributions in Box 14 on your W-2.
FLI can be entered on the W2 screen in box 14, with FLI in the first column and the amount in the second column.
Line 29 – New Jersey Gross Income Subtract line 28c from line 27 and enter the result. If zero or less, make no entry.
You can get a copy of a previously filed New Jersey Income Tax return by completing Form DCC-1 . You can also get copies of previously filed New Jersey returns (NJ-1040, NJ-1040NR, or NJ-1041) by delivering a completed DCC-1 to a Division of Taxation Regional Information Center.
New Jersey does not have a standard or itemized deductions, but allows specific deductions for medical expenses and property tax. Unreimbursed medical expenses are deductible in excess of 2% of gross income.
Where should I enter New Jersey Family Leave Insurance (NJ FLI)? Some employers mistakenly put New Jersey Family Leave Insurance in box 15 or 17 on the W-2. To ensure correct calculations, always enter New Jersey Family Leave Insurance in box 14, even if your W-2 form has it in a different box.
Family Leave Insurance benefits are considered taxable income for purposes of the federal income tax. They are not considered taxable for purposes of the New Jersey gross income tax. When you apply, you can choose to have 10% of your benefits withheld for federal income tax.