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Saturday, November 23, 2024

Residents and visitors to New Jersey paid $43.7 billion in taxes in 2021

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New Jersey collected $43.7 billion in taxes in 2021, a 15.2 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 ($22.8 billion) and sales and gross receipts taxes ($17.9 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 sets the tax classifications among the survey categories and cautions 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.

2021 New Jersey Tax Collections
Type of TaxAmount
Property taxes$5,166,000
Sales and gross receipts taxes$17,871,986,000
License taxes$1,986,338,000
Income taxes$22,793,255,000
Miscellaneous taxes$1,026,284,000
General sales and gross receipts taxes$12,803,267,000
Selective sales and gross receipts taxes$5,068,719,000
Alcoholic beverages sales tax$174,692,000
Amusements sales tax$308,883,000
Insurance premiums sales tax$639,103,000
Motor fuels sales tax$386,173,000
Pari-mutuels sales tax$0
Public utilities sales tax$935,252,000
Tobacco products sales tax$601,614,000
Other selective sales and gross receipts taxes$2,023,002,000
Alcoholic beverages license$4,662,000
Amusements license$60,072,000
Corporations in general license$517,923,000
Hunting and fishing license$15,989,000
Motor vehicle license$681,061,000
Motor vehicle operators license$60,487,000
Public utilities license$21,565,000
Occupation and business license, NEC$622,514,000
Other license taxes$2,065,000
Individual income taxes$16,833,495,000
Corporations net income taxes$5,959,760,000
Death and gift taxes$530,341,000
Documentarty and stock transfer taxes$495,943,000
Severance taxes$0
Taxes, NEC$0

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