A1850 — 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.

A1850 — 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. · Informed CitizenryAssembly Bill A1850 proposes changing the structure of New Jersey's gross income tax. The bill establishes a flat 5.9 percent tax rate for all taxable income that exceeds certain thresholds, which…Open in Informed Citizenry