NJ TaxesNJ Tax CreditsNJ Tax Incentives

NJ Taxes

Corporate Income Tax

• The tax rate is 9% on adjusted entire net income or on the portion allocable to New Jersey.
• 7.5% for all corporations with entire net income of over $50,000 to $100,000 or less.
• 6.5 % if entire net income is $50,000 or less.
• Minimum tax on both foreign and domestic corporations is $500, unless under certain circumstances of consolidated or affiliated groups that have payroll over $5,000,000, when the minimum tax is $2,000.

Franchise Tax

• New Jersey does not impose a Franchise Tax.

Personal (Gross) Income Taxes

• Tax Rate Range: Low - 1.4% on first $20,000 of income; High - 8.97% on income over $500,000.

Personal Property Tax

• New Jersey does not impose a Personal Property Tax.

State Sales Taxes

• 7% (food, prescription drugs and non-prescription drugs, clothing, footwear exempt).  Starting on July 1, 2007, some personal services may be taxed.
• No local sales taxes.

Real Property Taxes

• County, municipal and school budget costs determine the amount of property tax to be paid.
• Visit the State of New Jersey for information on property tax relief programs.

Insurance Gross Premiums Tax

• Researching

Gross Receipts

• Researching

Business Tax Incentives

• Camden's Urban Enterprise Zone Program

Additional New Jersey Business Tax Incentives:

• Business employment incentive grants (BEIP)
• Statewide loan pool for business
• Direct loans o Export financing
• Building/equipment loans
• Local development financing fund for commercial/industrial projects
• Downtown beautification program
• Hazardous discharge site remediation loan and grant program
• Brownfield redevelopment loan program
• Real estate development program
• Smart growth pre-development funding
• NJ technology funding program
• Petroleum underground storage tank remediation and upgrade
• Financing for small and minority-owned businesses
• Bright beginnings child care facilities loan fund
• NJ seed capital program

For more information, visit:

• The State of New Jersey
• New Jersey Economic Development Authority for resources on financing and business growth
• Federal Tax Information

Sources: www.state.nj.us, New Jersey Economic Development Authority

The information on New Jersey Taxes is subject to change. The data presented on this Web site may not be accurate or current. Visit the State of New Jersey for the more accurate and current information.