Tax Alert: NJ Veterans are Entitled to an Additional $3K Exemption This Year

Tax Alert: NJ Veterans are Entitled to an Additional $3K Exemption This Year

The State of New Jersey has recently announced an additional $3,000 exemption for the 2017 tax year to veterans who have been honorably discharged or released under honorable circumstances from the military by December 31, 2017.  This exemption is available to New Jersey residents and non-residents who are required to file a New Jersey income tax return.  Up to two exemptions can be claimed if both taxpayer and spouse meet criteria.

In order to claim this exemption, two forms of paperwork are required: (1) DD-214, Certificate of Release or Discharge from Active Duty; and (2) Veteran Exemption Submission Form.

The NJ Department of Treasury is urging veterans to send their forms in prior to filing tax returns to ensure the processing of returns is not impeded.  For timeliness, if you have access to the internet, we encourage you to go to www.state.nj.us/treasury/taxation/newexemptionveterans.shtml to upload the two required forms.  Once on the page, scroll down to the first bullet point, and follow the directions for uploading your forms.

You can also fax your forms to the Department of Treasury at 609-633-8427.

If you do not have your DD-214, you will need to request one using form SF 180 (available here).  It can take 90 days or more to receive your DD-214 after submitting SF 180, so haste is of essence if you need to make a request.  You have four options, we encourage the first option to speed up the process:

Go online to archives.gov/veterans/military-service-records and select “Submit your request ONLINE with eVetRecs”;

Mail the form paying special attention the instructions on where to mail it on the last page of SF 180; or

Fax the form to 314-801-9195.

Please note, if you decide to mail in the SF 180, send it regular mail, as the site has stated sending it priority or FedEx will not speed up the process

AttachmentSize
PDF icon NJ Veterans exemption form68.67 KB
PDF icon Form SF 1801.04 MB