Surprising News About Federal Taxes For New Jersey Residents
The average amount of federal taxes New Jersey residents pay will surprise you, but not how you think it will.
When we hear the word taxes in New Jersey, the sweat starts to pour from our brows and we begin to grind our teeth.
New Jersey Is The Tax Capital Of The Nation
New Jersey has always been known as the state where we get taxed until we can't be taxed anymore.
A recent report, however, shows that New Jersey is well below the national average for paying federal taxes.
Read More: More Good New Jersey Tax News
The report at National Priorities Project focuses on data from 2022 and lists the average federal;l taxes paid by each state, and how it compares to the federal taxes paid by all the other states.
New Jersey Doesn't Pay The Most Taxes?
We immediately looked at the states that paid the highest average federal taxes and assumed we'd find New Jersey among them, but we didn't.
We did find the Garden State near the bottom of the list, meaning what we pay in federal taxes is way below the national average.
Which States Pay Less Than New Jersey?
Here are the specific statistics. On average, New Jersey residents pay $16.828. That's $3461 less than the national average.
New Jersey residents fork over the seventh least federal taxes in the nation, behind only California, Wyoming, New York, Massachusetts, Connecticut, and D.C.
Keep scrolling to read about some very rich New Jersey residents.
The Top 8 Richest Billionaires Living In New Jersey
Gallery Credit: Jimmy G
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