Number of the Day: 16,000

NJ Spotlight | May 21, 2010

The estimated number of taxpayers who would be affected by the “millionaire’s tax” approved by the NJ Assembly and Senate yesterday is 16,000. The number is derived from the 17,600 taxpayers who filed tax returns for 2007 with income of $1 million or more, the most recent year available. (Officials estimate the recession has reduced the number of NJ millionaires.) If made law, these New Jerseyans will see their state taxes increase by 1.78 percent to 10.75 percent. Gov. Chris Christie has already vetoed the measure.