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 CitizenryThis bill proposes to convert New Jersey's gross income tax into a flat tax starting on January 1, 2026. Under the proposed law, the tax rate would be 5.9 percent for all taxable income exceeding s…Open in Informed Citizenry