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NJ A6021
Bill
Status
11/17/2025
Primary Sponsor
Gregory Myhre
Click for details
AI Summary
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Establishes a flat 5.9% gross income tax rate beginning January 1, 2026, replacing the current progressive tax system with rates ranging from 1.4% to 10.75%
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Exempts unmarried individuals, married individuals filing separately, estates, and trusts with gross income of $37,500 or less from any state income tax
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Exempts married couples filing jointly, heads of household, and surviving spouses with gross income of $75,000 or less from any state income tax
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Applies the 5.9% flat rate only to taxable income exceeding the applicable threshold ($37,500 or $75,000 depending on filing status), not to total income
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Eliminates all existing tax brackets and graduated rates that currently apply to different income levels under New Jersey's gross income tax structure
Legislative Description
Sets flat gross income tax rate at 5.9 percent tax for all taxable income over $37,500 or $75,000, depending on filing status; exempts taxpayers with less income from gross income tax.
Commerce, Economic Development and Agriculture
Last Action
Introduced, Referred to Assembly Commerce, Economic Development and Agriculture Committee
11/17/2025