Energy Conference: Decarbonization - A Business Perspective REGISTER

New Jersey’s 10.75% income tax rate for its highest earners is the second highest rate in the nation, but according to an analysis by the national Tax Foundation, New Jersey’s overall income tax burden is 8th highest in the nation.

The state’s income tax rates are very progressive, with considerably lower tax rates on income under $5 million. Still, even averaged out across the entire population, the Tax Foundation calculated that New Jersey’s average tax burden is $1,570 per person.

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