The following publication has been posted to our Web site: New Jersey State Tax News, Summer 2004. View this Publication
Property Tax Relief Programs
||The deadline for filing 2003 Senior Freeze (Property Tax Reimbursement) Applications has been further extended to September 8, 2004. The original due date, June 1, 2004, had previously been extended to August 2, 2004. Information on the program is available here.
||The New Jersey gross income tax rate on gross income over $500,000 has increased from 6.370% to 8.970%. View This Summary
||View State Treasurer John E. McCormac’s press release regarding New Jersey’s settlement initiative for “Son of BOSS” tax shelters and other abusive tax transactions. Press Release
|| View State Attorney General Peter C. Harvey’s press release regarding a Passaic County tax preparer who plead guilty to tax fraud charges for filing fraudulent New Jersey income tax returns and stealing more than $100,000 in illegal refunds:
Attorney General's Press Release
A summary of the tax legislation enacted in conjunction with the State budget for fiscal year 2005 was recently posted on our Web site. Links to notices that have already been issued by the Division of Taxation are included where applicable. View This Summary
P.L. 2004, c.40, which is described in the above summary, increases the New Jersey gross income tax rate for taxpayers with gross income over $500,000 and requires employers to begin withholding tax at an increased rate beginning no later than September 1, 2004. Revised withholding tables
Additional information about the recent changes will be posted as it becomes available. Please continue to check the News section of our Web site.