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This Is What To Do If You Can’t Pay Your Taxes This Year In New Jersey
Lots of people are worried about taxes this year. Inflation is through the roof and people are hoping more than ever that they don’t owe the government money. Tax day is looming and residents of some states are better off than others.
Photo by Kelly Sikkema on Unsplash
WalletHub conducted a survey of the states with the highest and lowest tax rates. This is where New Jersey falls. The dollar amount is the average state and federal annual taxes combined due per household.
1 | Alaska | $4,870 | ||||
2 | Delaware | $4,707 | ||||
3 | Montana | $4,773 | ||||
4 | Nevada | $5,636 | ||||
5 | Wyoming | $5,511 | ||||
6 | Florida | $5,355 | ||||
7 | Utah | $6,887 | ||||
8 | Idaho | $5,545 | ||||
9 | Colorado | $7,383 | ||||
10 | Tennessee | $4,964 | ||||
11 | Oregon | $7,329 | ||||
12 | California | $9,612 | ||||
13 | South Carolina | $5,288 | ||||
14 | Alabama | $4,924 | ||||
15 | District of Columbia | $10,357 | ||||
16 | Arizona | $6,452 | ||||
17 | West Virginia | $4,780 | ||||
18 | New Hampshire | $8,061 | ||||
19 | North Dakota | $6,652 | ||||
20 | North Carolina | $6,302 | ||||
21 | Georgia | $6,692 | ||||
22 | New Mexico | $5,698 | ||||
23 | Virginia | $8,578 | ||||
24 | Hawaii | $10,456 | ||||
25 | Louisiana | $5,710 | ||||
26 | Massachusetts | $10,870 | ||||
27 | South Dakota | $6,597 | ||||
28 | Rhode Island | $8,842 | ||||
29 | Arkansas | $5,712 | ||||
30 | Missouri | $6,578 | ||||
31 | Minnesota | $8,511 | ||||
32 | Oklahoma | $6,154 | ||||
33 | Maryland | $10,729 | ||||
34 | Maine | $7,289 | ||||
35 | Indiana | $6,851 | ||||
36 | Vermont | $8,060 | ||||
37 | Mississippi | $5,834 | ||||
38 | Washington | $10,915 | ||||
39 | Michigan | $6,965 | ||||
40 | Kentucky | $6,698 | ||||
41 | Texas | $8,006 | ||||
42 | Wisconsin | $8,089 | ||||
43 | New Jersey | $12,652 | ||||
44 | Nebraska | $7,786 | ||||
45 | Ohio | $7,306 | ||||
46 | Iowa | $7,645 | ||||
47 | Kansas | $7,919 | ||||
48 | Pennsylvania | $8,820 | ||||
49 | New York | $12,047 | ||||
50 | Connecticut | $12,120 | ||||
51 | Illinois | $9,987 |
New Jersey is really out of control tax-wise but at least we beat out Nebraska, Ohio, Iowa, Kansas, Pennsylvania, New York, Connecticut, and Illinois.
Tax Rates in New Jersey (1=Lowest; 25=Avg.):
- 43rd – Overall Effective State & Local Tax Rate
- 10th – Income Tax
- 51st – Real-Estate Tax
- 1st – Vehicle Property Tax
- 7th – Sales & Excise Taxes
This Is What To Do If You Can't Pay What You Owe This Year
- Universal Tip: File a return no matter what.
- If You Need 30 Days: Wait for a bill and pay a 0.5% monthly fee.
- If You Need 31 – 180 Days: Get a 180-day extension. Pay a 0.5% monthly fee and 3% APR.
- If You Need 181+ Days: Consider an installment agreement or pay with a credit card.
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