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New Jersey State Tax Information |
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- Sales Tax and Use
- State Sales Tax Rate: 3%, food and drugs exempt
- Optional Municipality Sales Tax Rate: 3%, food and drugs exempt
- Use Tax Rate: 6% for services
- Automotive: 3% - 6%
- Amusement: 3% - 6% (Atlantic City subject to 12% luxury tax)
- Rental and Property Tax Rates
- Hotel and Motel Tax: all in addition to sales tax – 5%; Newark & Jersey City + 1%; Atlantic City + 1%; Wildwoods + 3.15%
- Real Estate Transfer Tax: $1.25 state + $.50 county each $500 of consideration; additional fees range from $.25 - $4.30 per $500 of consideration up to $1 million; additional 1% tax for residential or farmland property in excess of $1 million
- Fuel Tax Rates
- Gasoline: $.105 per gallon + $.04 per gallon
- Gasohol: $.105 per gallon + $.04 per gallon
- Diesel Fuel: $.135 per gallon + $.04 per gallon
- Liquor, Cigarette Tax Rates
- Beer Excise Tax: $ 0.12 per gallon
- Cigarette Tax: $2.40 per pack
- Liquor Excise Tax: $4.40 per gallon
- Other Tobacco Product Tax: 30% of wholesale price
- Wine Excise Tax: $.70 per gallon
- Income Tax
- Corporate Income Tax: 1.4% - 8.97%
- Individual Income Tax: 1.4% (up to $20,000) – 8.97% (over $500,001)
- Miscellaneous Information
- Lottery Sales Tax: 56.8%
- Inheritance Tax: graduating rates for all inherited items valued over $500; many exemptions exist
- Estate Tax: estate tax charged in graduating rates, separate from inheritance tax; many exemptions exist
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Last Updated ( Monday, 19 June 2006 )
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