New Jersey Reports & Information

NEWS & MEDIA


The Latest News from CTJ's Tax Justice Blog

New Jersey
By the Numbers

New Jersey Below is a snapshot of key features of New Jersey's tax system. (Scroll Down)
Personal Income Tax Features (2015)
  • Range of Tax Rates: 1.4% - 8.97%
  • Standard Deduction: None
  • Personal Exemption: $1,000
  • Dependent Exemption: $1,500
  • Earned Income Tax Credit (EITC): 20% Refundable
Corporate Income Tax Features (2015)
  • Range of Tax Rates: 9.00%
  • Income Level at Which Top Rate Applies: All
  • Combined Reporting: No
  • Apportionment Factor (Payroll): 0%
  • Apportionment Factor (Property): 0%
  • Apportionment Factor (Sales): 100%
Sales Tax Features (2015)
  • State Sales Tax Rate: 7.00%
  • Average Local Sales Tax Rate: N/A
  • Average Combined State & Local Sales Tax Rate: 7.00%
  • State Sales Tax Treatment of Groceries: Exempt
  • Local Sales Tax Treatment of Groceries: N/A
  • Number of Services Taxed: 11 out of 168 surveyed (2007)
  • Streamlined Sales Tax Membership: Full
  • Sales tax applies to digital goods and services
  • Sales tax applies to digital goods and services
Property Tax Features (2015)
  • Provides a circuit breaker for homeowners and renters of all ages
  • Comparatively high property taxes.
  • Property taxes capped at 2%.
Other Tax & Revenue Features (2015)
  • Gasoline Tax Rate (per gallon): $0.145
  • Diesel Tax Rate (per gallon): $0.175
  • Cigarette Tax Rate (per pack): $2.70
  • Estate or Inheritance Tax: Yes
  • Net Lottery Sales Per Capita: $280 (2010)
Tax Policy Oversight
  • Tax Expenditure Report: Yes, but excludes at least one major tax
  • Tax Incidence Analysis Capability: Personal income tax only

Last Updated January 13, 2015

Sources & Glossary