S 3311
Sets flat gross income tax rate at 5.9 percent tax for all taxable income over $37,500 or $75,000, depending on filing status; exempts taxpayers with less income from gross income tax.
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Sign in to take action- Introduced
- Passed Senate
- Passed General Assembly
- To Governor
- Became Law
Bill overview
This bill proposes a flat gross income tax rate of 5.9 percent for New Jersey residents with taxable income over $37,500 (for unmarried individuals, estates, and trusts) or $75,000 (for married couples filing jointly, heads of household, and surviving spouses). Taxpayers with income below these thresholds would be exempt from the gross income tax. The bill amends existing tax tables to reflect this new structure.
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