New Jersey State Income TaxesThe state of New Jersey enforces a deadline of April 15th for filing your state tax return.
This page:
• Lists basic New Jersey state tax information
• Links to the major New Jersey income tax forms
• Shows you how you can save time and money by e-filing
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New Jersey state taxes at a glance:Tax Rate Range: Low - 1.4%; High - 8.97% Income Brackets*: Lowest - $20,000; Highest - $500,000 Number of Brackets: 6 Personal Exemptions: Single - $1,000; Married - $2,000; Dependents - $1,500; Senior Exemption - $1,000 Standard Deduction: None Medical/Dental Deduction: Limited to Excess of 2% of gross income Federal Income Tax Deduction: None
*Note: The tax brackets reported are for single individuals. For married couples filing jointly, the same rates apply for income under $20,000 to over $150,000.
Filing your New Jersey state income tax returnIn filing your New Jersey state income tax return, you are required to use the same filing status used on your federal tax retune. There are a few circumstances that allow you to do otherwise, but generally the same filing status must be used on both returns.
Since no standard deduction or itemized deductions are allowed, the deduction method used on your federal return does not effect your state tax return.
Even though the standard or itemized deductions are not allowed, New Jersey offers tax relief in the form of the following tax credits:
• credit for taxes paid to another jurisdiction, • property tax credit, • credit from the previous year's return, • New Jersey earned income credit (17.5% of federal EIC credit) • credit for excess unemployment/disability contributions.
Also, New Jersey offers tax deductions for the following:
• alimony and separate maintenance payments, • medical expenses that exceed 2% of the gross income, • qualified conservation contributions and • property taxes paid on a principle residence.
As a resident of New Jersey, your wages retirement benefits and capital gains are all taxed at the same rate.
Furthermore, Residents of New Jersey that receive retirement benefits from a source located outside New Jersey are still subject to tax on those benefits.
Finally, nonresidents who derive income from New Jersey sources are required to fileform NJ-1040NR if their income for the entire tax year, from all sources,exceeds $10,000, for married filing separately, or single, and $20,000 formarried filing jointly, head of household or qualifying widow(er).
Sidebar You can work on your New Jersey tax return online while filing your federal return (you can work on it for free, and pay nothing until you are ready to file).
Note: if you are filing more than one state return, you must file a paper return for each additional state, as TurboTax for The Web only allows one state prep.
New Jersey income tax formsThe main New Jersey tax forms are:
Form NJ-1040 | 2006 New Jersey Individual Income Tax Return | Instructions
NJ-1040EZ | Short State Income Tax Return.
Schedule A, B, & C | Credit for Taxes Paid to Another Jurisdiction
Schedule 1 | Property Tax
If you need New Jersey income tax forms that are not listed here, you can download them from the New Jersey tax forms site.
Or, just simply e-file!
Additional NJ state taxes helpIf you need help with your federal tax return, start with our basic guide to tax filing.
For additional help with filing NJ income tax returns, see the official site of the New Jersey Taxation.
State income tax info:
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