NJ Tax Bracket Creep
the staff of the Ridgewood blog
Ridgewood NJ, last week’s federal Producer Price Index report showed that prices for basic goods across the country surged at a rate unseen in 31 years.
As Jared Walczak of the Tax Foundation noted in an analysis, “Inflation is often called a hidden tax, but in many states it yields a far more literal tax increase as tax brackets fail to adjust for changes in consumer purchasing power.”
Continue reading NEW JERSEY’S STEALTH INCOME TAX HIKE : INFLATION
