Home     About Us    Contact Us     Contribute     Privacy
Investing
Stocks
Bonds
Mutual Funds
Biz
Credit
Career
College
Economics
Tax
More
 
 
Marketplace
Related Articles
More
Related Definitions
Related Categories
Tip of the Day

Tip of the Day Put At Least 20% Down On A Home

Put At Least 20% Down On A Home - Your home is most likely the biggest purchase you will make in your lifetime, so when planning for the big day,...

read entire tip

Related Podcasts
Recently Added
Other Great Sites
 

Nj Income Tax Filing

For NJ Income Tax Filing the deadline is 15th April. New Jersey state has its own set of income tax forms and rules for filing taxes. NJ Income Tax Filing can also be done online and there are many websites which can help you in this process. You can save money and time by e-filing you tax returns in New Jersey.

For NJ Income Tax Filing, you need to know the current rates of income tax and the different income tax brackets. The income tax rates for NJ state are not aligned with the federal rates. NJ state legislation for tax, fixes the income tax rate which is variable from the federal rate. In NJ state your state and federal income tax is deducted from your paycheck every pay cycle.

NJ state has six income tax brackets and the state charges more tax, for the more income you earn. In the first bracket if you are earning up to $20,000 you are charged 1.4% income tax. The second bracket is for income $20,001 to $35,000 for which you are taxed at a rate of 1.75%. If you are earning $35,001 to $40,000 you have to pay tax at the rate of 3.5%. The next bracket is for incomes ranging from $40,001 to $75,000 which attracts tax of 5.525%. The second last bracket is for incomes from $75,001 to $500,000 which has a tax rate of 6.37%. Any income of $500,001 and above is charged 8.97% in the last bracket.

NJ income tax filing deadline is deferred for a day if there is no mail service on 15th of April. But better than snail mail many residents of NJ state are now preferring to file their tax returns online. The E-file system allows you to fill the different income tax forms and also submit them online. This can be done through websites of the state government and for NJ there is a separate e-file page.

If you are an employee, your employer should provide you with the W-2 statement. This gives detail of how much exactly you have earned during the year. For self-employed people there is an equivalent form to be filled.

Along with your salaried income you will have to add all the other incomes you may have earned like interests, dividends and so on. After adding all the incomes you have to subtract the deductions for which you are qualified. The figure you get will tell you what tax bracket you come under and you will have to file your tax according to the rate applicable to that income bracket.

Discuss It!

bigo live for pc said:

BigoLive is a social tool that lets you connect with people through live videos.

guide to login new gmail account said:

create gmail account process

192.168.0.1
said:

192.168.0.1 IP Admin: Get guide on how to configure Wireless Router settings using 192.168.o.l & how to know default IP address of Router.

Most Popular Articles
Most Popular Definitions
 
Daily Definition

Definition of the Day Law of One Price

Law of One Price - The law of one price relates to the theory that any commodity, asset or security will have the same price in more than one exchange. Should the price differ in anyway, then by what are called arbitrage opportunities an equality will be achieved. Essentially the...

read entire definition

 
 

 

 

Home     About Us    Contact Us     Contribute     Sitemap

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Copyright © 2009 TeenAnalyst.com