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Tax concerns
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Tax concerns

We hope readers have had a wonderful summer and extend our best wishes for a healthy, happy, and prosperous New Year. We also thank you for your dedicated support of JewishFederation of Greater MetroWest NJ.

We are proud to share with you that on June 27, New Jersey passed law S2532/A3860, which codifies that an out-of-state resident who makes donations to charities in New Jersey, including Federation, will not be subjected to New Jersey income tax. The Act took effect immediately upon signing.

The Act supports the New Jersey Department of Treasury policy that a person living outside of New Jersey can make a financial contribution, gift, bequest, donation, or any other financial instrument or pledge in any amount to any NJ corporation, foundation, organization or institution, which is a registered  501(c)(3), without  being considered a resident under the state’s tax law. The same holds for an out-of-state resident who serves on the board of a registered 501(c)(3).

We are proud to share that Federation, in partnership with the NJ State  Association of Jewish Federations, worked with NJ legislators to introduce and swiftly pass this legislation. In practical terms, you can continue to support the vital work of Federation with no adverse tax consequences. You can also serve on boards and volunteer with different agencies — even if you live out of state.

This means that you can help make sure those senior adults and individuals with special needs receive supportive services, that vocational and job placement services are available to the unemployed, that families in crisis receive counseling, and that your children and grandchildren can deepen their Jewish identities through informal and formal Jewish education, Jewish camping, and trips to Israel.

If you wish to read the official act, it can be found on-line at www.njleg.state.nj.us/2012/Bills/AL13/73_.PDF.

We hope this letter puts to rest any concerns you may have had about the tax implications of your charitable giving to Federation. Your support is deeply valued. If you still have questions, please do not hesitate to contact Howard Rabner at 973-29-3020 or hrabner@jfedgmw.org.

Lori Klinghoffer
President

Max L. Kleinman
Executive Vice President/CEO

Jewish Federation of Greater MetroWest NJ

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