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The tax table below will show in detail the New Jersey state income tax rates by income tax bracket(s). There are 6 income tax brackets for New Jersey. Tax brackets for individuals are provided below: For earnings between $1 and $20,000, the tax rate on every dollar of income earned is 1.4%.
Under the terms of the New Jersey State Constitution of 1947 and the Faulkner Act of 1950, a municipality may obtain a special charter form from the New Jersey Legislature, providing a unique form of governmental organization for that community. [1]
The Optional Municipal Charter Law or Faulkner Act (N.J.S.A 40:69A-1 [1], et seq.) provides New Jersey municipalities with a variety of models of local government. This legislation is called the Faulkner Act in honor of the late Bayard H. Faulkner, former mayor of Montclair, New Jersey, U.S., and former chairman of the Commission on Municipal Government.
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That surcharge did not go to NJ Transit, but it levied a five-year, 2.5% tax on businesses earning more than $1 million a year, generating the state about $1 billion a year when it was enacted in ...
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