iCalculator™ NJ (US)"Informing, Educating, Saving Money and Time in New Jersey"
US Tax 2024

iCalculator™ US: New Jersey Tax Calculators

Welcome to iCalculator™ US, your comprehensive suite of free tax calculators for New Jersey. iCalculator™ has provided free tax calculators for New Jersey since 2014. Since those early days we have extended our resources for New Jersey to includes Tax Guides, Tax Videos and enhanced the tax calculators and supporting tax information. View all tax calculators and tools in the New Jersey Tax Hub or use the New Jersey Tax Calculator for 2024 (2025 Tax Return).

New Jersey Tax Calculator 2024
*** Please enter your income ***
Advanced New Jersey Salary Calculator 2024
FICA (Federal Insurance Contributions Act):
Itemized Deductions:
Retirement Plan Contributions:
About you:
About your spouse (complete if Married filing Jointly:
Local Taxes and Additional Taxes:
Additional New Jersey State Tax Deductions and Credits:
Additional Federal Tax Deductions and Credits:
Work Time Settings [for fine tune computation of hourly rates etc.]:
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New Jersey Tax Calculator 2024/25

The New Jersey Tax Calculator is for the 2024 tax year which means you can use it for estimating your 2025 tax return in New Jersey, the calculator allows you to calculate income tax and payroll taxes and deductions in New Jersey. This includes calculations for

  1. Employees in New Jersey to calculate their annual salary after tax.
  2. Employers to calculate their cost of employment for their employees in New Jersey.

The New Jersey Tax Calculator for 2024 encompasses a comprehensive suite of features to cater to your tax calculation needs. Key features include detailed calculations for Federal Income Tax based on the latest tax tables and allowances, FICA contributions covering both Social Security and Medicare, and automatic calculations for the Earned Income Tax Credit (EITC). Additionally, it allows for the consideration of retirement plan contributions, including 401(k), 403(b), SARSEP, and 457 plans, as well as SIMPLE plans, with specific limits for 2024. The calculator also supports Schedule A (Form 1040) for Federal Itemized Deductions, local tax calculations, and the inclusion of additional taxes or deductions.

For those seeking a deeper understanding and more detailed information on these features, including how they apply to your individual tax situation, it's recommended to view the comprehensive instructional overview here. This additional resource provides extensive insights into each feature, ensuring you can maximize your tax deductions and credits effectively for the 2024 tax year.

Discover New Jersey, United States

New Jersey, a state in the northeastern United States, is situated within the metropolitan areas of New York City and Philadelphia. It is bordered by New York to the north and northeast, the Atlantic Ocean to the east and south, Pennsylvania to the west, and Delaware to the southwest. The state's strategic location in the heart of the bustling Northeast Corridor makes it a vital link between the major cities of New York and Philadelphia. Discover more about New Jersey's neighbors: New York, Pennsylvania, and Delaware.

New Jersey boasts a rich cultural and historical heritage, being one of the original 13 colonies of the United States. It played a significant role in the American Revolution and is dotted with historical landmarks and monuments. The state is also known for its diverse population, contributing to a vibrant cultural scene that includes a wide range of cuisines, festivals, and artistic offerings. Furthermore, New Jersey's Atlantic coastline, including the famous Jersey Shore, adds to its cultural identity and tourism appeal.

The economy of New Jersey is one of the most diverse and robust in the United States. Key sectors include pharmaceuticals, finance, telecommunications, and manufacturing. The state is home to numerous Fortune 500 companies, and its proximity to major metropolitan areas makes it a hub for businesses and industries. Additionally, New Jersey's ports play a crucial role in the state's economy, being part of the largest and busiest port complex on the East Coast.

Agriculture also plays a significant role in New Jersey's economy, with the state being a major producer of blueberries, cranberries, and tomatoes. The nickname "The Garden State" reflects this agricultural heritage. Moreover, the tourism industry, fueled by attractions such as the Jersey Shore, historic landmarks, and casinos in Atlantic City, contributes significantly to the state's economic vitality.

Overview of Taxation in New Jersey, United States

The United States implements a dual-level taxation system, encompassing both federal and state taxes. This overview provides insights into the state-level taxes and compliance in New Jersey, distinct from federal tax obligations. Specific tax rates are not included, focusing instead on the types of state taxes and their respective compliance requirements.

State Taxes in New Jersey

New Jersey's tax system is multifaceted, impacting both individuals and businesses in various ways. Understanding these state taxes is crucial for compliance and financial planning.

1. Income Tax

New Jersey imposes a progressive state income tax on its residents. The tax brackets in New Jersey vary based on income levels. This progressive structure means that higher income earners pay a higher rate on their income.

2. Sales Tax

The state levies a sales tax on most goods and some services. The rate is uniform throughout the state, but certain items may be exempt or taxed at a reduced rate. Understanding these exemptions is important for both consumers and businesses.

3. Property Tax

Property tax in New Jersey is primarily administered at the local level. It is one of the significant revenue sources for local governments, funding public services like education, police, and infrastructure. The property tax rates vary by municipality and are based on property assessments.

4. Corporate Business Tax

Businesses in New Jersey are subject to the Corporate Business Tax (CBT), which applies to corporations operating within the state. The tax is based on the business's income and specific rules govern its calculation and payment.

Compliance and Reporting

Compliance with New Jersey's tax laws requires understanding the filing requirements and deadlines for each type of tax. Both individuals and businesses must ensure accurate reporting and timely payment to avoid penalties and interest. The state offers resources and guidelines to assist taxpayers in meeting their obligations.