NJ A4427

Requires annual inflation adjustments to New Jersey gross income tax brackets beginning in taxable year 2027, using the Consumer Price Index.

Directs the Director of the Division of Taxation to calculate and publish inflation-adjusted bracket thresholds by October 1 of each year for the following tax year.

Maintains the current tax rate structure (ranging from 1.4% to 10.75%) while adjusting the income thresholds at which each rate applies.

Applies to all filing statuses including married filing jointly, head of household, single filers, and estates/trusts.

Amends N.J.S.54A:2-1 to prevent "bracket creep" where inflation pushes taxpayers into higher tax brackets without real income gains.