New Jersey is another state in a list of states this year that is implementing tax increases mid year. These types of increases are one of many reasons I strongly recommend
automated payroll software.
New withholding rates for New Jersey taxpayers grossing more than $400,000 go into effect no later than October 1, 2009. The increase applies to the entire 2009 tax year. On January 1, 2010 the withholding rate will revert back to the prior rate.
A reminder to New Jersey employers f you have questions about your responsibilities as an employer, call the Division's Customer Service Center at 609-292-6400 or e-mail us at nj.taxation@treas.state.nj.us.
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