Tax Rate Comparison
| Tax Type | New York | New Jersey |
|---|---|---|
| Income Tax | 4%-10.9% + NYC tax up to 3.876% | 1.4%-10.75% (7 brackets) |
| Sales Tax | 4% (avg ~8.52%) | 6.625% |
| Property Tax | 1.40% | 2.23% (highest in US) |
| Estate Tax | Yes (over $6.94M) | Yes (over $2M) + inheritance tax |
| Corporate Tax | 6.5% | 9% (11.5% over $1M) |
Income Tax at Different Levels
| Income | New York | New Jersey | Winner | Annual Savings |
|---|---|---|---|---|
| $50,000 | $2,600 | $1,850 | New York | $750 |
| $100,000 | $5,900 | $4,700 | New York | $1,200 |
| $200,000 | $14,800 | $13,500 | New York | $1,300 |
Who Should Live in New York?
NYC workers avoiding commute, singles and renters
Who Should Live in New Jersey?
Families wanting suburbs, NYC commuters saving on city tax
Frequently Asked Questions
Is New Jersey cheaper than New York?
For income tax, NJ is slightly cheaper. But NJ has highest property taxes in US (2.23%), so homeowners may pay more.
Do I pay NY tax if I commute from NJ?
Yes, NY taxes non-resident income earned there. NJ gives credit for NY taxes paid.