New Jersey taxable Income

New Jersey taxable income includes:

• Wages and other compensation;

• Interest and dividends (including interest paid on income tax refunds);

• Earnings on nonqualified distributions from (1) qualified state tuition program accounts, including the New Jersey Better Educational Savings Trust program (NJBEST) accounts, or (2) qualified state 529A Achieving a Better Life Experience program (ABLE) accounts;

• Net profits from business, trade, or profession;

• Net gains or income from sale or disposition of property;

• Pensions, annuities, and IRA withdrawals;

• Net distributive share of partnership income;

• Net pro rata share of S corporation income;

• Net rental, royalty, and copyright income;

• Net gambling winnings, including New Jersey Lottery winnings from prize amounts over $10,000;

• Alimony; • Estate and trust income;

• Income in respect of a decedent;

• Prizes and awards, including scholarships and fellowships (unless they satisfy the conditions on page 18);

• Value of residence provided by employer; • Fees for services rendered, including jury duty. New Jersey taxable income also includes the following that are not subject to federal income tax:

• Interest from obligations of states and their political subdivisions, other than New Jersey and its political subdivisions;

• Income earned by a resident from foreign employment;

• Certain contributions to pensions and tax-deferred annuities;

• Employee contributions to federal Thrift Savings Funds, 403(b), 457, SEP, or any other type of retirement plan other than 401(k) Plans.