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You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. New Jersey requires every resident and non-resident earning an income in the state to pay state income taxes. Typically, you will need to file your federal tax return first, then use the same information to file your state tax return. New Jersey has a progressive tax structure, with credits and deductions available for eligible taxpayers to reduce the tax obligations. New Jersey personal income tax rates Table
Single and separate filers in New Jersey have seven tax rates, while joint filers have eight. New Jersey personal income tax rates Tax rate Single Tax rate Married, filing jointly 1.4% $0-$20,000 1.4% $0-$20,000 1.75% $20,001-$35,000 1.75% $20,001-$50,000 3.5% $35,001-$40,000 2.45% $50,001-$70,000 5.525% $40,001-$75,000 3.5% $70,001-$80,000 6.37% $75,001-$500,000 5.525% $80,001-$150,000 8.97% $500,001-$5,000,000 6.37% $150,001-$500,000 10.75% $5,000,001 or more 8.97% $500,001-$5,000,000 10.75% $5,000,001 or more Source: There are several forms of tax-exempt income in New Jersey, which include Social Security benefits, military pensions, disability benefits and unemployment compensation. Learn about other ways to reduce your tax obligations this year in . Who has to file New Jersey state taxes
Any resident with a New Jersey income source above the taxable amount minimum is subject to income tax. The same applies to part-year residents (those who spend less than 180 days in the state during the year) and non-residents earning an income in New Jersey. Earnings include wages and salaries, rent from a leased property in the state, lottery and gaming winnings, and income from goods and services within the state. New Jersey sales tax rate Table
New Jersey imposes a sales tax on the transfer of tangible goods within the state, and a use tax for goods purchased elsewhere but consumed or stored in the state. The rate of sales tax in New Jersey is 6.625 percent, ranking eighth in the country, according to the Tax Foundation. New Jersey sales tax rate Sales tax rate National rank 6.625% 8 Source: Several items are exempt from sales tax in New Jersey, such as over-the-counter and prescription drugs, groceries, clothing and footwear and real estate sales. Other things to know about New Jersey state taxes
The average property tax rate in New Jersey is high, at 2.42 percent, compared to the national average of 1.07 percent. The rate largely depends on the value of the property and the exact location, and in some counties – such as Camden and Gloucester – it can be higher than 3 percent. New Jersey also imposes estate and inheritance taxes on the assets of a deceased person. The rates depend on the value of the estate and the relationship between the beneficiary and the decedent. Learn more
SHARE: Cynthia Widmayer is an insurance contributor for Bankrate and has over two years of experience as a personal finance writer. She covers home, car and life insurance products for Bankrate, The Simple Dollar and Coverage.com among others. Lance Davis is the Vice President of Content for Bankrate. Lance leads a team responsible for creating educational content that guides people through the pivotal steps in their financial journey. Related Articles