Kean Jr. Pushes for NJ Tax Write-Off for Charitable Contributions

Kean Jr. Pushes for NJ Tax Write-Off for Charitable Contributions

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According to figures gathered by the Mercer County-based Center for Non-Profits, the stakes may be very high for charitable organizations in the Garden State. During the 2015 tax year, more than 1.5 million New Jersey residents reported charitable contributions on their federal taxes, totaling more than $6 billion in value. Of that amount, nearly $2.5 billion came from those with household incomes under $200,000, meaning they are likely to be impacted by either the larger standard deduction or the cap on the SALT write-off.

Linda Czipo, president and chief executive of the Center for Non-Profits, stressed that New Jersey residents regularly give to charities for many reasons other than a tax write-off, but she also indicated there are strong links between giving and tax incentives.

“We are very, very concerned that with the change in the tax code there will be a significant decrease in charitable giving in New Jersey,” Czipo said.

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Czipo, the leader of nonprofit organization, suggested charitable organizations play an important role in New Jersey’s economy, including by employing nearly 10 percent of the state’s private-sector workforce.

“I certainly hope policymakers will continue to keep the charitable community in mind as they’re looking at all of these changes,” she said.

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