New Jersey

New Jersey’s Department of Taxation implements all of the taxes for the state. These taxes include individual and business income taxes, employee withholding taxes, sales and use taxes, and various other taxes. The general state sales and use tax rate for New Jersey is 7%.

Individual income tax is reported on Form NJ-1040, which is due April 15. If the 15th falls on a weekend or holiday, taxpayers have until the next business day to mail the return. The tax rates for individual income taxes range from 1.4% to 8.97%. Form NJ-1040 NR is used for nonresidents.

Corporations report their income tax using Form CBT-100, the Combination Business Tax Return. S corporations use Form CBT-100S. Both returns are due by the fifteenth day of the fourth month following the close of the fiscal year. Partnerships use Form NJ-1065, with the same due date.

Other New Jersey taxes are the property tax, alcoholic beverage tax, hotel/motel occupancy fee and municipal occupancy tax, inheritance and estate taxes, tobacco products tax, and insurance premium tax.

For additional information on New Jersey taxes or to download forms, visit the Department of Taxation’s website at www.state.nj.us/treasury/taxation.

If you are looking for a CPA, Accounting Firm, or Financial Advisor to assist you with your New Jersey tax reporting, bookkeeping, or general accounting needs, you have come to the right place! Check out the CPA Search feature on this website.