Are taxes higher in NY or NJ?
NJ’s top individual tax rate is 8.97%.
At taxable income below $500K, NY St tax rate is slightly higher than NJ..
Can you live in New Jersey and work in New York?
The simple answer is yes. New Jersey residents who work in New York State must file a New York tax return and pay taxes on income earned in New York. You will have to file an NJ Resident Income tax return on Form NJ-1040 and a NY Nonresident Income Tax return on form IT-203.
What taxes do I pay if I live in NY and work in NJ?
If you live in NY and work in NJ you would be required to file a NJ Non-resident tax return. NJ would tax your wages earned in NJ but no other income such as interest and dividends. You would also file a NY state resident return.
Is it cheaper to live in NJ and work in NY?
Lower living expenses- Another benefit of living in NJ while working in NYC. … Housing is much cheaper in New Jersey. However, it is not all about the money. You will be able to have a more spacious housing for the same amount.
Where in NJ can you live commute to NYC?
New Jersey is one of the most coveted and attractive states to live in the United States. Whether living within commuting distance to New York City is your …Edgewater, New Jersey. … North Bergen, New Jersey. … West New York, New Jersey. … Edison, New Jersey. … Iselin, New Jersey. … Weehawken, New Jersey. … Secaucus, New Jersey.
Is it cheaper to buy a car in NJ or NY?
Conventional wisdom says it’s cheaper to buy a car in New Jersey than New York — but conventional wisdom may be wrong. … But you don’t pay the tax in the state where you buy the car; you pay the tax where you register it. So New Jersey’s cheaper sales tax is not going to help you pay less, the dealers said.