New Jersey Income Tax
New Jersey has a progressive income tax with rates ranging from 1.4-10.75%. Lower income earners pay the lower rate, with the top rate applying to the highest bracket.
New Jersey Sales Tax
The state sales tax rate in New Jersey is 6.625%. With an average local sales tax of -0.03%, the combined average sales tax rate is 6.6%.
New Jersey Property Tax
The effective property tax rate in New Jersey is 2.47%. With a median home value of $401,400, the median annual property tax bill is $9,476 ($790/month).
Property taxes in New Jersey are significantly higher than the national average, which is an important factor for homebuyers.
Corporate & Business Taxes
The corporate tax rate in New Jersey is 6.5-11.5%.
Other Taxes in New Jersey
| Tax Type | Rate / Amount |
|---|---|
| Gas Excise Tax | $0.42/gallon |
| Cigarette Tax | $2.70/pack |
| Estate Tax | Yes |
| Inheritance Tax | Yes |
Key Facts
Highest property taxes in the nation. One of two states with both estate and inheritance taxes.
Compare to Other States
See how salaries compare on our average salary in New Jersey page. Thinking about starting a business? Check our LLC guide for New Jersey. See the current minimum wage in New Jersey.
Financial Calculators
Plan your finances in New Jersey with our free tools:
- Paycheck Calculator — estimate take-home pay after taxes
- Salary Calculator — convert hourly to annual pay
- Mortgage Calculator — estimate monthly home payments
- Home Affordability Calculator — see how property taxes affect what you can afford