Inheritance Tax was followed by property tax + vehicle registration tax as the most despised among New Jerseyans.
Infographic showing the most hated taxes in each state.
the staff of the Ridgewood blog
Ridgewood NJ, Americans may joke that only death and taxes are certain, but which taxes do they hate the most? 5StarLoans.com carried out a poll of 3,044 respondents, which aimed to uncover the most despised tax in every state – from sky-high property taxes, to steep sales taxes, to the polarizing “death tax”.
U.S. Soldiers Serving in War Zones Earn an Additional $225 Per Week in Military Pay
the staff of the Ridgewood
Ridgewood NJ, Service members deployed to dangerous war zones overseas are no longer subject to State Income Tax for combat zone pay under a new law sponsored by Senator Kristin Corrado and signed today by Governor Murphy.
New Jerseyans already know it to be true, but a Forbes analysis of state-by-state tax burdens places the Garden State near the top of its “Worst States for Taxes” list. Samantha Marcus, NJ.com Read more
New Jersey Taxes Could Eat Up All Of Peyton Manning’s Super Bowl Earnings
This is a guest post from K. Sean Packard, CPA, who is Director of Tax at OFS. He specializes in tax planning and the preparation of tax returns for pro athletes. He can be reached at [email protected] and on Twitter at @AthleteTax.
Peyton Manning has the opportunity to pull a John Elway and ride off into the sunset as a Denver Bronco after winning his second ring, not that he wants to retire. His career will hinge upon an offseason exam on his surgically-repaired neck, according to ESPN ’s Chris Mortensen. Obviously, the most important implication of the exam will be Manning’s health. But whether his career continues will have an effect on how much tax New Jersey can collect from him for his appearance in the Super Bowl XLVIII.
Should the Broncos beat the Seahawks, Manning—and the rest of his teammates—will earn $92,000. The loser’s share in the Super Bowl is $46,000. So why does Manning’s future beyond February 2 matter to New Jersey? It would seem logical that the Garden State would apply its tax rates on the $92,000 or $46,000 Manning earns for his week in East Rutherford. Unfortunately, we are dealing with tax laws, not logic.
