New Jersey tax basis is the state adjusted taxes.

Interest/Divident Income: Exempts U.S. government bonds and certain distributions from a New Jersey Qualified Investment Fund.

Rent Income: Same as federal (with certain adjustments).

Capital Gain: Same as federal except capital gains from New Jersey obligations are exempt and capital losses may not be deducted from ordinary income

Unemployment Income: Unemployment income is exempt from state taxes.

Social Security Benefits: All social security income is exempt from state taxes.

State Bond Interest: Taxable except New Jersey obligations

Health Savings Accounts: There is no provision for state tax tax deduction from for the Health Saving Accounts.

Disability: Exempt.

Lottery: Net gambling winnings are table. New Jersey lottery winnings exempt

Federal Income Tax: Not deductible

Other Taxes: Exemptions for property taxes/rent paid (unless refundable property tax/rent credit is claimed), FAIR rebates,medical expenses that exceed 2% of New Jersey gross income, withdrawals from qualified state tuition program accounts, alternative means of commuting, and qualified receipts from medical and dental services provided in a Health Enterprise Zone. The following are exempt if reported in an employee's W-2 wages: (a) compensation for injuries or sickness; (b) meals and lodging furnished by the employer; (c) reimbursements for employee business expenses; and (d) moving expenses. Additional retirement income exclusion may also apply for taxpayers who do not use maximum general retirement exclusion and/or who are not eligible for social security or railroad retirement benefits. Distributed earnings on Coverdell education savings accounts and employee contributions to retirement plans (other than 401(k) plans) are taxable.

Check other state tax links below.