Here are some basic facts on New Jersey’s tax system and how it compares to other states from the Tax Foundation:
· New Jersey taxpayers had to work until May 10, 2007 to pay their total tax bill, ranking them 3rd highest in the nation.
· New Jersey's state/local tax burden percentage ranks 10th highest nationally.
· New Jersey ranks 48th in the Tax Foundation's State Business Tax Climate Index.
· Among states levying personal income taxes, New Jersey's top rate ranks 6th highest nationally.
· Among states levying corporate income taxes, New Jersey's top tax rate ranks 7th highest nationally.
· New Jersey sales taxes among highest in nation; the cigarette tax is the nation's highest.
· New Jersey property taxes = highest per capita in the nation.
· New Jersey taxpayers receive less federal funding per dollar of federal taxes paid than any other state.
These facts should not come as a surprise to those of us who live in the Garden State. Why do we live here? Hey, I didn’t chose to - I was born here. You can be sure that as soon as my parents go to their final audit I will be moving to Pennsylvania!
To be fair to NJ, we have a very low gas tax. And I can be in midtown Manhattan in less than an hour for only $2.00!
TTFN
· New Jersey taxpayers had to work until May 10, 2007 to pay their total tax bill, ranking them 3rd highest in the nation.
· New Jersey's state/local tax burden percentage ranks 10th highest nationally.
· New Jersey ranks 48th in the Tax Foundation's State Business Tax Climate Index.
· Among states levying personal income taxes, New Jersey's top rate ranks 6th highest nationally.
· Among states levying corporate income taxes, New Jersey's top tax rate ranks 7th highest nationally.
· New Jersey sales taxes among highest in nation; the cigarette tax is the nation's highest.
· New Jersey property taxes = highest per capita in the nation.
· New Jersey taxpayers receive less federal funding per dollar of federal taxes paid than any other state.
These facts should not come as a surprise to those of us who live in the Garden State. Why do we live here? Hey, I didn’t chose to - I was born here. You can be sure that as soon as my parents go to their final audit I will be moving to Pennsylvania!
To be fair to NJ, we have a very low gas tax. And I can be in midtown Manhattan in less than an hour for only $2.00!
TTFN
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