NJ Salary Calculator
NJ Salary Calculator: Calculate your New Jersey net salary after federal and state tax deductions. This calculator helps employees estimate their take-home pay by considering NJ state income tax, federal tax, Social Security (6.2%), and Medicare (1.45%) contributions.
Calculator
Annual Gross Salary: $How It Works
The calculator deducts federal tax (10-37%), NJ state tax (1.4-10.75%), Social Security (6.2%), and Medicare (1.45%) from gross income. Federal tax uses progressive brackets while NJ tax has 7 brackets. FICA taxes apply to first $160,200 (Social Security) and all income (Medicare). Net salary = Gross - (Federal + State + FICA taxes).
FAQs
1. How accurate is the NJ Salary Calculator?
The calculator provides estimates based on standard tax brackets and rates. Actual deductions may vary based on filing status, exemptions, deductions, and additional withholdings. Consult a tax professional for exact calculations.
2. Does it include local taxes in New Jersey?
No, this calculator focuses on federal and NJ state taxes. Some NJ municipalities have local income taxes that are not included in these calculations.