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New Jersey’s Top Three Tax Revenues

The New Jersey Division of Taxation released its 2012 Annual Report which lists tax revenues collected for 2012.  Not surprisingly, the top three tax revenues were the gross income tax at $11 billion, the sales and use tax at $8 billion and the corporate business tax at $2 billion.  These three taxes account for more than 75% of the total tax revenues collected and they have one common denominator, jobs.  Without jobs, these revenues would be drastically lower.  To view the report, see here

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    The mission of Commerce and Industry Association is to be the leader in free enterprise advocacy for the purpose of fostering, through education, legislative vigilance and membership interaction, an economic climate that enhances business potential and makes New Jersey a better state in which to live, work and conduct business.

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