The filing deadline is Tuesday, April 17, 2018, for calendar-year taxpayers – matching the due date for the federal Form 1040. The due date is April 17 instead of April 15 because of the weekend and the Emancipation Day
holiday in the District of Columbia.
Retirement Income Exclusions
Maximum amounts of pension and/or other retirement income that you can exclude from your gross income are being increased over a four-year period, beginning with Tax Year 2017.
Your total income for the entire year must be $100,000 or less to qualify for the retirement income exclusions.
Personal Exemption for Veterans
You can claim an additional $3,000 exemption if you are a military veteran who was honorably discharged or released under honorable circumstances from active duty in the Armed Forces of the United States on or any time before the last day of the tax year. If you are married (or in a civil union) and are filing jointly and your spouse was honorably discharged or released under honorable circumstances by the last day of the tax year, he/she can claim an additional $3,000 exemption. When completing your tax return, fill in the oval (resident return) or check the box (nonresident return) to indicate that the exemption is being claimed. Otherwise, the exemption(s) will be disallowed. You must certify
that you were honorably discharged or released under honorable circumstances from active duty the first time you claim the exemption(s).
Use Tax Due on Out-of-State Purchases
New Jersey has reduced its Sales and Use Tax rate in two phases between 2017 and 2018. The rate was 7% until January 1, 2017, when it fell to 6.875%. The rate falls to 6.625% on January 1, 2018. When calculating your Use Tax due on out-of-state purchases, you must use the rate in effect at the time of the purchase.
Schedule NJ-BUS-1 (Form NJ-1040NR only)
The Division of Taxation updated NJ-BUS-1, Business Income Summary Schedule, for Form NJ-1040NR, to include a place to enter taxes that partnerships pay on behalf of nonresident individual partners. Form BUS-1 (for Form NJ-1040NR) is available
The New Jersey Yellow Ribbon Fund has been added to the list of organizations to which you can make a donation (contribution) on your tax return. The monies raised will be used to ease the burden of members of the Armed Forces on extended deployment. To donate to the new fund, you must specify code number “23” at the “Other Designated Contribution” line.
Credit for Excess UI/WF/SWF; DI; FLI Withheld
For 2017, the maximum employee unemployment insurance/workforce development partnership fund/supplemental workforce fund contribution was $142.38. The maximum employee disability insurance contribution was $80.40. The maximum employee family leave insurance contribution was $33.50. If you had two or more employers, you may have contributed more than the maximum amount(s). To claim credit on the tax return for excess withholding, complete Form NJ-2450. More information is available
Credit for Taxes Paid to Other Jurisdictions
The Philadelphia nonresident wage tax rate for 2017 was 3.4741% (.034741) from January 1 to June 30, and 3.4654% (.034654) from July 1 to December 31.
Property Tax Relief Programs
Homestead Benefit Program
- Homeowners. New Jersey residents who own and occupy a home in New Jersey that is their principal residence may be eligible for a homestead benefit.
There is no tenant rebate application.
Senior Freeze (Property Tax Reimbursement) The Senior Freeze program reimburses eligible senior citizens or disabled persons for property tax increases. Eligible residents must file a 2017 Senior Freeze application (Form PTR-1 or PTR-2). Information for 2017 will be posted as it becomes available.