New jersey sales tax
New JerseyState is one of the most religiously and ethnically diverse states in the country. It has the largest Jewish population by percent. New JerseyState is a state in the Mid-Atlantic and Northern regions of the United State. The state is named after the island of Jersey in the English Channel. It is bordered on the north New York, on the east by the Atlantic Ocean, on the southwest by Delaware, and on the west by Pennsylvania. Parts of New JerseyState lie within the metropolitan area of the New York and Philadelphia.
The Bureau of Economic Analysis estimates that New Jersey 's total state product in 2004 was $416 billion. Its per capita personal income in 2004 was $41,636, 2nd in the UScountry-region and 126% of the nation average of $33,041. Its median household income is the highest in the nation with $55,146. It is ranked 2nd in the nation by the number of places with per capita incomes above national average with standard sales tax rate is 7%, applicable to all sales unless specifically exempted by law.
Sales Tax and exemptions for sales tax
New JerseyState has 7% state sales tax. This split as 3.5% for state and 3.5% for the municipality. In urban Enterprise zones, the state portion of the sales tax is waived to encourage economic development, resulting in an effective tax rate of does not change sales tax on unprepared food, household paper products, medicine clothing. New JerseyState does not charge sales tax on gasoline, but gasoline is subject to $0.145/gallon exercise tax. New Jersey State sales tax of clothing and accessories that are made of fur from the hide or pelt of an animal that are valued at $500 or more subject to a 6% fur clothing gross recipes tax.
The standard sales taxes are applicable to all retail sales unless specially exempted by law. A New Jersey State sales tax for travelers in New JerseyState state hotel/motel occupancy fee is 5%, and municipalities are allowed to impose their own tax up to 3%. Public institutions within New Jersey are automatically exempted from all three taxes and fees. Upon presentation of form ST-5, private institutions located within New Jersey are exempted from the 6% states sales tax only. Purchases must be paid for with a check or credit card in the name of the exempted. organization.
A serious sales tax
Op- Ed article by New Jersey State sales tax supports recent changes in sales tax law but maintains it should be expanded to include services previously untaxed, also favors increasing income tax threshold and expand earned tax credit.
The Crisis-Sunday July, 2006- Editorial calls budget and sales tax compromise reached by Gov Jon Corzine and New Jersey legislature necessary and sensible in short term, holds crisis did not begin when Corzine took office but rather is result of many year of avoided decisions, false promises and delusional bookkeeping.
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