Get NJ NJ-2450 2021

Both New Jersey workers and employers contribute to the cost of the temporary disability program. Workers contribute through deductions taken out of their paychecks. For 2022, workers contribute 0.14% on the first $151,900 (wage cap) in covered wages earned during this calendar year.

New Jersey does not allow you to exclude from wages amounts you contribute to deferred compensation and retirement plans, other than 401(k) Plans.

Although the state of New Jersey does not tax Unemployment Insurance benefits, they are subject to federal income taxes.

Both New Jersey workers and employers contribute to the cost of the temporary disability program. Workers contribute through deductions taken out of their paychecks. For 2022, workers contribute 0.14% on the first $151,900 (wage cap) in covered wages earned during this calendar year.

What is NJ Form 2450? In order to claim the credit, Form NJ-2450, Employees Claim for Credit for Excess UI/WF/SWF (Unemployment Insurance/Workforce Development Partnership Fund/Supplemental Workforce Fund), Disability Insurance, and/or Family Leave Insurance Contributions must be enclosed with the NJ-1040 return.

Box 14 – Other To the right of this label is the amount of New Jersey unemployment tax withheld in 2022. This tax is equal to 0.0425% of the first $39,800 of wages earned in 2022.

The new employer rate remains at 2.8% for FY 2022. The fiscal year 2022 tax rates continue to include the 0.1% Workforce Development Fund rate and the 0.0175% Supplemental Workforce Fund rate. (New Jersey Department of Labor & Workforce Development website.)

New Jersey has a graduated individual income tax, with rates ranging from 1.40 percent to 10.75 percent. There is also a jurisdiction that collects local income taxes. New Jersey has a 6.5 percent to 11.5 percent corporate income tax rate.