This Is What To Do If You Can't Pay Your Taxes This Year In NJ

Lots of people are worried about taxes this year. Inflation is through the roof and people are hoping more than ever that they don’t owe the government money. Tax day is looming and residents of some states are better off than others.

Photo by Kelly Sikkema on Unsplash

WalletHub conducted a survey of the states with the highest and lowest tax rates. This is where New Jersey falls. The dollar amount is the average state and federal annual taxes combined due per household.

1	Alaska	$4,870
2	Delaware	$4,707
3	Montana	$4,773
4	Nevada	$5,636
5	Wyoming	$5,511
6	Florida	$5,355
7	Utah	$6,887
8	Idaho	$5,545
9	Colorado	$7,383
10	Tennessee	$4,964
11	Oregon	$7,329
12	California	$9,612
13	South Carolina	$5,288
14	Alabama	$4,924
15	District of Columbia	$10,357
16	Arizona	$6,452
17	West Virginia	$4,780
18	New Hampshire	$8,061
19	North Dakota	$6,652
20	North Carolina	$6,302
21	Georgia	$6,692
22	New Mexico	$5,698
23	Virginia	$8,578
24	Hawaii	$10,456
25	Louisiana	$5,710
26	Massachusetts	$10,870
27	South Dakota	$6,597
28	Rhode Island	$8,842
29	Arkansas	$5,712
30	Missouri	$6,578
31	Minnesota	$8,511
32	Oklahoma	$6,154
33	Maryland	$10,729
34	Maine	$7,289
35	Indiana	$6,851
36	Vermont	$8,060
37	Mississippi	$5,834
38	Washington	$10,915
39	Michigan	$6,965
40	Kentucky	$6,698
41	Texas	$8,006
42	Wisconsin	$8,089
43	New Jersey	$12,652
44	Nebraska	$7,786
45	Ohio	$7,306
46	Iowa	$7,645
47	Kansas	$7,919
48	Pennsylvania	$8,820
49	New York	$12,047
50	Connecticut	$12,120
51	Illinois	$9,987

New Jersey is really out of control tax-wise but at least we beat out Nebraska, Ohio, Iowa, Kansas, Pennsylvania, New York, Connecticut, and Illinois.

Tax Rates in New Jersey (1=Lowest; 25=Avg.):

43rd – Overall Effective State & Local Tax Rate
10th – Income Tax
51st – Real-Estate Tax
1st – Vehicle Property Tax
7th – Sales & Excise Taxes

This Is What To Do If You Can't Pay What You Owe This Year

Universal Tip: File a return no matter what.
If You Need 30 Days: Wait for a bill and pay a 0.5% monthly fee.
If You Need 31 – 180 Days: Get a 180-day extension. Pay a 0.5% monthly fee and 3% APR.
If You Need 181+ Days: Consider an installment agreement or pay with a credit card.