Super Bowl Tax - My9 New Jersey

Super Bowl Tax

Posted: Updated:
Montclair, New Jersey (My9NJ) - The Super Bowl is coming to New Jersey and the Garden State is expected to gain between $500 and $600 million in revenue from the big game. In addition, it is estimated that there will be about a half-million visitors coming through during the week of festivities.

Many New Jersey homeowners are rushing to put their homes up for rent, and tax accountant Jerry Bobal explained how these people may be able to wave a federal tax. “Because there’s a specific section of the internal revenue code which states that if you rent your residence for less than 15 days during the year, that rental income is tax free,” he said.

The rule only applies to federal income tax, so that state is still going to take a chunk of money that you make from renting your home, but Uncle Sam is not going to take a penny.

Janice Amatucci plans to rent her 3 bedroom home in Upper Montclair for $3,000 a night for four nights.

“When I found out that I didn’t have to declare it on my taxes it was an added incentive to rent my house out,” she said.

Many towns close to MetLife Stadium are taking advantage of the influx in visitors and the demand for places to stay. Some are hosting Super Bowl events leading up to the big game and even providing shuttle bus transportation to and from mass transit hubs in order to make it more convenient for people to stay in their specific town.


Watch Chasing New Jersey weeknights at 10pm on My9 and don’t forget to like us on Facebook!

  • Chasing New JerseyMore>>

  • Backlash Over 9-Year-Old Uzi Accident That Killed A Shooting Instructor

    Backlash Over 9-Year-Old Uzi Accident That Killed A Shooting Instructor

    Friday, August 29 2014 10:34 AM EDT2014-08-29 14:34:27 GMT
    The tragic accident of a 9-year-old New Jersey Girl who shot and killed a Las Vegas shooting instructor while shooting a fully automatic Uzi has gained national attention. The young girl was learning to shoot when the gun recoiled hitting the instructor in the head and killing him. This story has once again opened the debate about appropriate use of guns among children.
    The tragic accident of a 9-year-old New Jersey Girl who shot and killed a Las Vegas shooting instructor while shooting a fully automatic Uzi has gained national attention. The young girl was learning to shoot when the gun recoiled hitting the instructor in the head and killing him. This story has once again opened the debate about appropriate use of guns among children.
  • Town Passes Recording Ordinance After Cop Caught Dissing Obama

    Town Passes Recording Ordinance After Cop Caught Dissing Obama

    Friday, August 29 2014 10:33 AM EDT2014-08-29 14:33:59 GMT
    Steven Wronko is a Helmetta, New Jersey resident who recently taped local police officer, Richard Recine, saying that he doesn't have to follow the U.S. Constitution because President Obama doesn't. “Obama has decimated the friggen Constitution so I don't give a damn, cause if he doesn't have to follow the Constitution, we don't have to,” Recine is heard saying on tape.
    Steven Wronko is a Helmetta, New Jersey resident who recently taped local police officer, Richard Recine, saying that he doesn't have to follow the U.S. Constitution because President Obama doesn't. “Obama has decimated the friggen Constitution so I don't give a damn, cause if he doesn't have to follow the Constitution, we don't have to,” Recine is heard saying on tape.
  • Atlantic City Resident Heads To Court To Fight Eminent Domain

    Atlantic City Resident Heads To Court To Fight Eminent Domain

    Friday, August 29 2014 10:33 AM EDT2014-08-29 14:33:07 GMT
    Chasing New Jersey first brought you the story of Charlie Birnbaum who is engrossed in a battle with the city of Atlantic City over eminent domain. Birnbaum's home is in the shadow of the Revel Casino and he was in court yesterday to fight the seizure of his property for public use. Even though the Revel Casino will be shutting its doors, the city still wants to take over his property and Birnbaum isn't going out without a fight.
    Chasing New Jersey first brought you the story of Charlie Birnbaum who is engrossed in a battle with the city of Atlantic City over eminent domain. Birnbaum's home is in the shadow of the Revel Casino and he was in court yesterday to fight the seizure of his property for public use. Even though the Revel Casino will be shutting its doors, the city still wants to take over his property and Birnbaum isn't going out without a fight.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices