2010 TaxGrams™
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State and Local Taxes
New Jersey State Tax Summary

New Jersey state tax summary, including corporate and individual New Jersey income taxes, credits, exemptions, deductions and more. Includes New Jersey estate, gift and inheritance tax, miscellaneous New Jersey taxes, pass-through entity treatment, payroll taxes, property taxes and New Jersey sales & use taxes.

New Jersey ranks #50 on the State Business Tax Climate Index (TaxFoundation.org).

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New Jersey Tax Contacts

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New Jersey Tax Forms

New Jersey Corporate Taxes

  • taxmOuth New Jersey Corporate Taxes
  • New Jersey Tax Rates & Brackets:

    6.76%> $0
    7.8%> $50,000
    9.36%> $100,000
  • Loss Carry-back/fwd: 0 Years Back / 7 Years Forward (Unlimited)
  • Throwback Sales?: N
  • Foreign Tax Deductible?: N
  • Alternative Minimum Tax (AMT): N
  • Gross Receipts Tax: N
  • Capital Stock (Net Worth) Tax?: N

New Jersey Tax Incentives and Credits

New Jersey Individual Income Taxes

  • taxmOuth New Jersey Individual Income Taxes
  • New Jersey tax rates and brackets:

    1.4%> $0
    1.75%> $20,000
    3.5%> $35,000
    5.525%> $40,000
    6.37%> $75,000
    8%> $400,000
    10.25%> $500,000
    10.75%> $1,000,000
  • Local Option IT Rate: 0.09%
  • Federal Inc used as Base?: N
  • Standard Deductions: Single N/A / Joint N/A
  • Personal Exemptions/Credits (c): Single $1,000 / Joint $2,000 / Dependent $1,500
  • Federal Tax Deductible?: N
  • State Tax Deductible?: Y
  • Alternative Minimum Tax (AMT)?: N

New Jersey Estate, Gift and Inheritance Taxes

New Jersey Miscellaneous Taxes

New Jersey Pass-through Tax Treatment

New Jersey Payroll Taxes

New Jersey Property Taxes

  • taxmOuth New Jersey Property Taxes
  • Median Tax Paid on Homes (Rank): $6,320 (#1)
  • Median Value of Homes: $364,100
  • Tax as % of Home Value (Rank): 1.74% (#2)
  • Median Income of Homeowner: $90,010
  • Tax as % of Income (Rank): 7.02% (#1)

New Jersey Sales and Use Taxes

  • taxmOuth New Jersey Sales and Use Taxes
  • State Rate: 7.00%
  • County & City (Weighted Ave): None
  • Combined State and Ave. Local Rates (Rank): 7.00% (#19)
  • General Treatment of Services: Many Taxable
  • Gasoline: Exempt
  • Groceries: Exempt

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