New Jersey Income Tax Guide for 2024
Overview
New Jersey uses a progressive income tax system with rates ranging from 1.4% to 10.75%. Capital gains are taxed as ordinary income. The state offers personal exemptions of $1,000 and dependent exemptions of $1,500.
Income Tax Rates
Single Filers
| Income Range | Tax Rate |
|---|---|
| Up to $19,999 | 1.4% |
| $20,000 - $34,999 | 1.75% |
| $35,000 - $39,999 | 3.5% |
| $40,000 - $74,999 | 5.525% |
| $75,000 - $499,999 | 6.37% |
| $500,000 - $999,999 | 8.97% |
| $1,000,000+ | 10.75% |
Married Filing Jointly
| Income Range | Tax Rate |
|---|---|
| Up to $19,999 | 1.4% |
| $20,000 - $49,999 | 1.75% |
| $50,000 - $69,999 | 2.45% |
| $70,000 - $79,999 | 3.5% |
| $80,000 - $149,999 | 5.525% |
| $150,000 - $499,999 | 6.37% |
| $500,000 - $999,999 | 8.97% |
| $1,000,000+ | 10.75% |
Capital Gains Tax
Capital gains are taxed at the same rates as ordinary income.
Deductions & Exemptions
| Type | Amount |
|---|---|
| Personal Exemption (Single) | $1,000 |
| Personal Exemption (Married) | $2,000 |
| Dependent Exemption | $1,500 |
Additional Information
- Brackets are not inflation-indexed; the 2020-and-after rate schedule (top rate 10.75% over $1,000,000) applies for 2024
- No standard deduction; $1,000 regular exemption per taxpayer and $1,500 per dependent, plus additional $1,000 exemptions for age 65+ and blind/disabled
Charts
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Sources
The 2024 figures for New Jersey on this page were compiled from the following official government publications:
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