S647 — Increases gross income tax rate on income exceeding $1,000,000 and dedicates revenue from tax rate increase for direct real property tax relief for taxpayers.

S647 — Increases gross income tax rate on income exceeding $1,000,000 and dedicates revenue from tax rate increase for direct real property tax relief for taxpayers. · Informed CitizenryThis bill increases the New Jersey gross income tax rate for individuals, estates, and trusts with taxable income exceeding $1,000,000 from 8.97% to 10.75%. The legislation also establishes a speci…Open in Informed Citizenry