![]() New Jersey’s tax system ranks 50th overall on our 2023 State Business Tax Climate Index.Įach state’s tax code is a multifaceted system with many moving parts, and New Jersey is no exception. The first step towards understanding New Jersey’s tax code is knowing the basics. New Jersey has a 6.625 percent state sales tax rate, a max local sales tax rate of 3.313 percent, and an average combined state and local sales tax rate of 6.60 percent. The 24 is a general number in reality, it could go up to 35, depending on your tax bracket. That means if you win 10,000 on football betting and 10,000 on slots, your PA sports betting taxes and your PA online casino tax should be identical. ![]() New Jersey has a 6.5 percent to 11.5 percent corporate income tax rate. There’s a 24 federal tax rate on all gambling, plus the 3.07 income tax rate for Pennsylvania. ![]() There is also a jurisdiction that collects local income taxes. How does New Jersey’s tax code compare? New Jersey has a graduated individual income tax, with rates ranging from 1.40 percent to 10.75 percent. New Jersey Tax Rates, Collections, and Burdens
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