Find Local New Jersey Tax Relief Experts

New Jersey has a graduated individual income tax from 1.4% to 10.75%, with the top rate applying to income above $1 million; combined with local taxes, New Jersey residents face among the highest effective tax burdens in the nation. The state sales tax is 6.625%, with Urban Enterprise Zone rates of 3.3125% for registered businesses in qualifying areas; New Jersey exempts food, clothing, and certain pharmaceuticals from sales tax. Corporate income tax in New Jersey is 9% for businesses with income above $100,000, and a 6.5% minimum alternative minimum assessment ensures most corporations pay at least some tax. Payroll taxes in New Jersey include state income tax withholding, unemployment insurance (employee and employer portions), workforce development assessment, and disability insurance; the total payroll tax compliance burden for NJ employers is among the highest nationally. New Jersey's Corporation Business Tax includes a minimum tax based on New Jersey gross receipts, ranging from $500 to $2,000 per year; businesses that fail to file CBT returns face escalating penalties. Back tax debt in New Jersey accrues at 3% above prime rate interest; the Division of Taxation can garnish wages, intercept state refunds, place liens on real property, and suspend business certificates. Hedge fund managers, pharmaceutical executives, and Wall Street professionals who commute from New Jersey frequently face complex multi-state and residency audit issues. New Jersey offers installment plans, penalty waivers with reasonable cause, and a formal Conference and Appeals process before the Tax Court of New Jersey.