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Tuesday, November 26, 2024

Residents and visitors to New Jersey paid $35.4 billion in taxes in 2018

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New Jersey collected $35.4 billion in taxes in 2018, a 6.8 percent increase from the previous year, according to the U.S. Census Bureau’s Annual Survey of State Government Tax Collections (STC).

Most tax revenue came from income taxes ($17.3 billion) and sales and gross receipts taxes ($15.4 billion).

The STC survey includes five broad tax categories and up to 25 subcategories. Data is gathered from all 50 state governments and all dependent state-level entities.

The Census Bureau cautions that it sets the tax classifications among the survey categories, and they may differ from the classifications set by the state governments.

Below is a breakdown of how taxes were classified by the bureau and how much was collected.

2018 New Jersey Tax Collections
Type of TaxAmount
Property taxes$5,016,000
Sales and gross receipts taxes$15,424,507,000
License taxes$1,542,213,000
Income taxes$17,273,498,000
Other taxes$1,119,812,000
General sales and gross receipts taxes$10,459,419,000
Selective sales and gross receipts taxes$4,965,088,000
Alcoholic beverages sales tax$142,459,000
Amusements sales tax$217,736,000
Insurance premiums sales tax$591,243,000
Motor fuels sales tax$458,892,000
Pari-mutuels sales tax$0
Public utilities sales tax$978,816,000
Tobacco products sales tax$660,315,000
Other selective sales and gross receipts taxes$1,915,627,000
Alcoholic beverages license$4,199,000
Amusements license$50,100,000
Corporations in general license$248,405,000
Hunting and fishing license$14,685,000
Motor vehicle license$657,956,000
Motor vehicle operators license$57,214,000
Public utilities license$21,812,000
Occupation and business license, nec$485,902,000
Other license taxes$1,940,000
Individual income taxes$15,037,845,000
Corporations net income taxes$2,235,653,000
Death and gift taxes$605,845,000
Documentary and stock transfer taxes$513,967,000
Severance taxes$0
Taxes, nec$0

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