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Sunday, November 24, 2024

Residents and visitors to New Jersey paid $52.8 billion in taxes in 2022

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New Jersey collected $52.8 billion in taxes in 2022, a 20.8 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 ($29.3 billion) and sales and gross receipts taxes ($19.7 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.

2022 New Jersey Tax Collections
Type of TaxAmount
Property taxes$5,068,000
Sales and gross receipts taxes$19,740,884,000
License taxes$2,187,730,000
Income taxes$29,290,446,000
Miscellaneous taxes$1,547,801,000
General sales and gross receipts taxes$14,178,031,000
Selective sales and gross receipts taxes$5,562,853,000
Alcoholic beverages sales tax$175,890,000
Amusements sales tax$386,996,000
Insurance premiums sales tax$747,723,000
Motor fuels sales tax$414,269,000
Pari-mutuels sales tax$0
Public utilities sales tax$949,949,000
Tobacco products sales tax$566,185,000
Other selective sales and gross receipts taxes$2,321,841,000
Alcoholic beverages license$4,515,000
Amusements license$54,590,000
Corporations in general license$719,362,000
Hunting and fishing license$14,272,000
Motor vehicle license$662,194,000
Motor vehicle operators license$58,724,000
Public utilities license$20,961,000
Occupation and business license, NEC$651,094,000
Other license taxes$2,018,000
Individual income taxes$20,630,297,000
Corporations net income taxes$8,660,149,000
Death and gift taxes$599,428,000
Documentarty and stock transfer taxes$948,373,000
Severance taxes$0
Taxes, NEC$0

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