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December 10, 2013

New Jersey’s state tax revenues increased 6.1 percent in fiscal year 2013 over 2012, brining the total to $29.1 billion, according to a report by the Rockefeller Institute, which cites U.S. Census Bureau calculations.

The biggest increase was in the smallest fund -- the corporate income tax, which rose 18.2 percent to $2.3 billion. Personal income tax revenues rose 8.8 percent to 12.1 billion. Revenues from the sales tax were up only 3.8 percent to $8.4 billion.

The state’s $29.1 billion in tax revenues ranked New Jersey 7th in the country. That is not counting property taxes. New Jersey has among the highest average income, although only the 11th-largest population.

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