CapitalistPundit

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Location: New York, New York, United States

Wednesday, July 26, 2006

New Jersey's Titanic

NEW JERSEY
Sales Taxes
State Sales Tax:
7% (food, prescription drugs and non-prescription

drugs, clothing, footwear exempt)
Gasoline Tax: 14.5 cents/gallon
Diesel Fuel Tax: 17.5 cents/gallon
Gasohol Tax: 14.5 cents/gallon
Cigarette Tax: $2.575/pack of 20


Personal Income Taxes
Tax Rate Range: Low - 1.4%; High - 8.97%
Income Brackets: * Lowest - $20,000; Highest - $500,000
Number of Brackets: 6
Personal Exemptions: Single - $1,000; Married - $2,000;
Dependents - $1,500
Additional Exemptions: Taxpayer or spouse 65 or older - $1,000
Standard Deduction: None
Medical/Dental Deduction: Limited to excess of 2% of gross income
Federal Income Tax Deduction:
None

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