Based on Fiscal Year 2019 data, the report finds state tax collections in New Jersey amount to $4,373 per person on average. The U.S. average is $3,141.
They're considered an easier and more palatable way to collect revenue from residents — but are you aware of just how many fees are tacked on to your everyday purchases?
New Jersey has ranked at the bottom in the annual Tax Foundation report for a decade. New top rates for businesses and wealthy people drove its score lower.
New Jersey is growing more business-friendly. According to a new report from the Tax Foundation, the Garden state moved up one place from 50th to 49th this year, beating neighbor New York.
Tomorrow, the New Jersey Senate and Assembly are scheduled to consider bill to increase the income tax on the state’s roughly 16,000 millionaires. Democrats say the $800 million generated through the increase would help fund property tax relief for the middle class. A new study by the Tax Foundation suggests taxing the rich is not a good idea.