New Jersey (NJ) – 2022
New Jersey
| Minimum Wage | New Jersey | Federal |
|---|---|---|
| Minimum Wage | $13.00 | $7.25 |
| Minimum Cash Wage (Tipped Employee) | 5.13 | |
| Maximum Tip Credit | $7.87 | |
| State Income Tax | New Jersey | Federal |
| Wage Withholding | Tables | |
| Supplemental Wage / Bonus Rate | No provision, but for taxable wages over $500,000 withhold at 9.9%. For taxable wages over $1,000,000 withhold at 11.8%. | |
| Unemployment Insurance | New Jersey | Federal |
| Maximum 2022 Taxable Earnings (Increased from $36,200 in 2021) | $39,800 | |
| Employee 2022 Deduction (0.3825%-UI + 0.0425%-Workforce Dev/Supplemental Workforce) | 0.425% | |
| Maximum 2022 Employee Deduction | $152.24 | |
| Employer FY2022 Tax Rates (Includes Workforce Dev/Supplemental Workforce) | 0.5 – 5.8% | |
| Standard FY2022 New Employer Rate (2.6825%-UI + 0.1175%-Workforce Dev/Supplemental Workforce) | 2.80% | |
| Voluntary Contribution Permitted | Yes | |
| Disability Insurance | New Jersey | Federal |
| Maximum 2022 Taxable Earnings Employee (Increased from $138,200 in 2021) | $151,900 | |
| Maximum 2022 Taxable Earnings Employer (Increased from $36,200 in 2021) | $39,800 | |
| Employee 2022 Deduction | 0.14% | |
| Employer FY2022 Tax Rates | 0.1 – 0.75% | |
| Standard FY2022 New Employer Rate | 0.50% | |
| Family Leave Insurance – Employee 2022 Deduction | 0.14% | |
| Family Leave Insurance – Maximum Employee 2022 Deduction | $212.66 |
Federal (FED) – 2022
| Minimum Wage | Federal |
|---|---|
| Minimum Wage | $7.25 |
| FICA (MEDICARE) | Federal |
| Medicare Rate | 1.45% |
| Additional Medicare Tax Withholding on Wages > $200,000 (No Employer Match) | 2.35% |
| Maximum Taxable Earnings | No Limit |
| FICA (SOCIAL SECURITY) | Federal |
| Maximum Taxable Earnings (Increased from $142,800 in 2021) | $147,000 |
| Employee / Employer Tax Rate (Unchanged from 2019) | 6.20% |
| Health Savings Accounts | Federal |
| Catch-up Contribution Limit (Employee / Employer) (Unchanged from 2021) | $1,000 |
| Pension Plans | Federal |
| Catch-up Contribution Limit – 401(k) & 403(b) plans (age 50 or older) (Increase from 6,000 in 2019) | $6,500 |
| Contribution Limit – 401(k) & 403(b) plans (Increased from $19,500 in 2021) | $20,500 |
New Jersey State Resources
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