Prudential Fox and Roach Realtors

PRUFOXROACH WEBSITES


New Jersey Tax Information

NEW JERSEY

609-826-4400 (anywhere)

800-323-4400 (within NJ, NY, PA, DE and MD)

www.state.nj.us/treasury/taxation

SALES TAX 7%

SINGLE TAXABLE INCOME RATE

First $20,000 1.5%

Next $15,000 (up to $35,000) $300 plus 2.0% of excess over $20,000

Next $5,000 (up to $40,000) $600 plus 3.9% of excess over $35,000

Next $35,000 (up to $75,000) $795 plus 6.1% of excess over $40,000

Next $75,000- $500,000 $2,930 plus 7.0% of excess over $75,000

Over $500,000 $32,680 plus 9.9% of excess over $500,000

MARRIED TAXABLE INCOME RATE

First $20,000 1.5%

Next $30,000 (up to $50,000) $300 plus 2.0% of excess over $20,000

Next $20,000 (up to $70,000) $900 plus 2.7% of excess over $50,000

Next $10,000 (up to $80,000) $1,440 plus 3.9% of excess over $70,000

Next $70,000 (up to $150,000) $1,830 plus 6.1% of excess over $80,000

Next $150,000-$500,000 $6,100 plus 7.0% of excess over $150,000

Over $500,000 $30,600 plus 9.9% of excess over $500,000

DEDUCTIONS: All of real estate property tax up to $10,000

RENTERS: Deduct up to 18% of annual rent

OTHER DEDUCTIONS: $1,000 for each spouse- $1,500 for each dependent

Steve Storti

Office: 610 889 7705