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New Jersey

 
 

The facts on New Jersey’s Tax Climate

New Jersey's Individual Income Tax System
New Jersey's personal income tax system consists of six brackets and a top rate of 8.97%. That rate ranks 5th highest among states levying an individual income tax. New Jersey's income tax collections per person were $1176 in 2010 which ranked 9th highest nationally.
50-State Table of Individual Income Tax Rates
50-State Table of State Individual Income Tax Collections
50-State Table of State and Local Individual Income Tax Collections Per Capita

New Jersey's Corporate Income Tax System
New Jersey's corporate income tax system consists of a flat rate of 9%. That rate ranks 6th highest among states levying an corporate income tax. New Jersey's corporate tax collections per person were $233 in 2010 which ranked 6th highest nationally.
50-State Table of Corporate Income Tax Rates
50-State Table of State and Local Corporate Income Tax Collections Per Capita
50-State Table of State Corporate Income Tax Collections Per Capita

New Jersey Sales and Excise Taxes
New Jersey levies a 7% general sales or use tax on consumers, which is above the national median of 6%. New Jersey's state and local governments collect $900 per person in general sales taxes and $403 per person in excise taxes, for a combined figure of $1303, which ranks 22nd lowest nationally. New Jersey's gasoline tax stands at 14.5¢ (3rd lowest nationally), while its cigarette tax stands at $2.7 (6th highest nationally.)
50-State Table of State and Local General and Selective Sales Tax Collections Per Capita

New Jersey Property Tax Collections Highest in Nation
New Jersey's state and local governments collected approximately $2819 per person in property taxes, which ranks highest nationally.
State and local property tax collections per capita by state

Tax Freedom Day Arrives on May 4th in New Jersey

Tax Freedom Day is the day when Americans finally have earned enough money to pay off their total tax bill for the year. In 2013, New Jersey taxpayers worked until May 4th (3rd latest nationally) to pay their total tax bill. The Tax Freedom Days of neighboring states are: New York, May 6th (ranked 2nd latest nationally); Pennsylvania, April 17th (ranked 15th latest nationally); and Delaware, April 14th (ranked 22nd latest nationally).

Full study of Tax Freedom Day, nationwide and in each state

New Jersey's State and Local Tax Burden Above National Average

New Jersey's 2010 tax burden of 12.42% ranks 2nd highest out of 50 states, and is above the national average of 9.9%. New Jersey's taxpayers pay $6689 per capita in state and local taxes.
New Jersey's State-Local Tax Burden, 1977-Present
Other States' State/Local Tax Burdens
Map of U.S. Showing all State's Burdens and Ranks
Historical Chart Comparing All States' State/Local Tax Burdens from 1977 to 2009

New Jersey's 2014 Business Tax Climate Index Ranks 49

New Jersey ranks 49th in the Tax Foundation's State Business Tax Climate Index. The Index compares the states in five areas of taxation that impact business: corporate taxes, individual income taxes, sales taxes, unemployment insurance taxes, and taxes on property, including residential and commercial property. The ranks of neighboring states are as follows: New York, 50th, Pennsylvania, 24th, and Delaware, 13th.
50-State Comparison of Business Tax Climates (data only) (2013)
2014 State Business Tax Climate Index (full study)

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