New Jersey Income Tax Rate 2023 - 2024
New Jersey state income tax rate table for the 2023 - 2024 filing season has seven or eight income tax brackets with NJ tax rates of 1.4%, 1.75%, 2.45%, 3.5%, 5.525%, 6.37%, 8.97%, 10.75% for Single, Married Filing Jointly, Married Filing Separately, and Head of Household statuses.
New Jersey income tax rate and tax brackets shown in the table below are based on income earned between January 1, 2023 through December 31, 2023.
In 2018 the New Jersey tax rate of 10.75% on income over $5 million was added. In 2020 the top bracket of over $5 million was reduced to $1 million keeping the rates and other brackets unchanged. This year the New Jersey rates and brackets remain unchanged. Outlook for the 2024 New Jersey income tax rate is to remain unchanged at the current rates.
| Income Tax Bracket | Tax Rate 2023 | ||
|---|---|---|---|
| $0 | to | $20,000 | 1.4% |
| $20,001 | to | $35,000 | 1.75% |
| $35,001 | to | $40,000 | 3.5% |
| $40,001 | to | $75,000 | 5.525% |
| $75,001 | to | $500,000 | 6.37% |
| $500,001 | to | $1,000,000 | 8.97% |
| $1,000,001 | to | ∞ | 10.75% |
| Income Tax Bracket | Tax Rate 2023 | ||
|---|---|---|---|
| $0 | to | $20,000 | 1.4% |
| $20,001 | to | $50,000 | 1.75% |
| $50,001 | to | $70,000 | 2.45% |
| $70,001 | to | $80,000 | 3.5% |
| $80,001 | to | $150,000 | 5.525% |
| $150,001 | to | $500,000 | 6.37% |
| $500,001 | to | $1,000,000 | 8.97% |
| $1,000,001 | to | ∞ | 10.75% |
| Income Tax Bracket | Tax Rate 2023 | ||
|---|---|---|---|
| $0 | to | $20,000 | 1.4% |
| $20,001 | to | $35,000 | 1.75% |
| $35,001 | to | $40,000 | 3.5% |
| $40,001 | to | $75,000 | 5.525% |
| $75,001 | to | $500,000 | 6.37% |
| $500,001 | to | $1,000,000 | 8.97% |
| $1,000,001 | to | ∞ | 10.75% |
| Income Tax Bracket | Tax Rate 2023 | ||
|---|---|---|---|
| $0 | to | $20,000 | 1.4% |
| $20,001 | to | $50,000 | 1.75% |
| $50,001 | to | $70,000 | 2.45% |
| $70,001 | to | $80,000 | 3.5% |
| $80,001 | to | $150,000 | 5.525% |
| $150,001 | to | $500,000 | 6.37% |
| $500,001 | to | $1,000,000 | 8.97% |
| $1,000,001 | to | ∞ | 10.75% |
Source: 2023 New Jersey State Tax Rate Schedule, published by the State of New Jersey Division of Taxation.
Please reference the New Jersey tax forms and instructions booklet published by the State of New Jersey Division of Taxation to determine if you owe state income tax or are due a state income tax refund. New Jersey income tax forms are generally published at the end of each calendar year, which will include any last minute 2023 - 2024 legislative changes to the NJ tax rate or tax brackets. The New Jersey income tax rate tables and tax brackets shown on this web page are for illustration purposes only.
New Jersey Tax Brackets 2023 - 2024
Looking at the tax rate and tax brackets shown in the tables above for New Jersey, we can see that New Jersey collects individual income taxes differently for Single versus Married filing statuses, for example. We can also see the progressive nature of New Jersey state income tax rates from the lowest NJ tax rate bracket of 1.4% to the highest NJ tax rate bracket of 10.75%.
For single taxpayers living and working in the state of New Jersey:
- Tax rate of 1.4% on the first $20,000 of taxable income.
- Tax rate of 1.75% on taxable income between $20,001 and $35,000.
- Tax rate of 3.5% on taxable income between $35,001 and $40,000.
- Tax rate of 5.525% on taxable income between $40,001 and $75,000.
- Tax rate of 6.37% on taxable income between $75,001 and $500,000.
- Tax rate of 8.97% on taxable income between $500,001 and $1,000,000.
- Tax rate of 10.75% on taxable income over $1,000,000.
For married taxpayers living and working in the state of New Jersey:
- Tax rate of 1.4% on the first $20,000 of taxable income.
- Tax rate of 1.75% on taxable income between $20,001 and $50,000.
- Tax rate of 2.45% on taxable income between $50,001 and $70,000.
- Tax rate of 3.5% on taxable income between $70,001 and $80,000.
- Tax rate of 5.525% on taxable income between $80,001 and $150,000.
- Tax rate of 6.37% on taxable income between $150,001 and $500,000.
- Tax rate of 8.97% on taxable income between $500,001 and $1,000,000.
- Tax rate of 10.75% on taxable income over $1,000,000.
For the Married Filing Jointly and Head of Household filing statuses, an eighth tax rate and income tax bracket appears. Notice the New Jersey income tax rate of 2.45% inserted into the third tax bracket position. Notice also the income tax brackets for Married Filing Jointly and Head of Household increase from $35,000 to $50,000 at the third tax bracket, then match up at $500,000 in the second to the last income tax bracket compared to Single filing status.
Last updated: December 9, 2023
References:
- NJ Income Tax Rates. Division of Taxation, State of New Jersey. Retrieved December 9, 2023.
- 54A:2-1 Imposition of tax. Title 54A New Jersey Gross Income Tax Act, New Jersey Statutes. Retrieved December 9, 2023.