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New Jersey

Overview

New Jersey is a Mid-Atlantic state on the east coast of the United States. Its capital is Trenton, while its biggest city is Newark. As the fourth smallest state in the US, you wouldn’t expect the population to be very big. However, due to its proximity to New York City and Philadelphia, the state’s population ranks 11th in the country, with 8.88 million people. The GDP for New Jersey in 2019 was $634,786,000,000.

In 2019, New Jersey imported $200,650,495 from Qatar. Its top imports are: Mineral fuel, mineral wax, bitumin substance Special classification provisions Inorganic chemical, precious and rare earth metal and radioactive compound In 2019, New Jersey exported $39,594,017 to Qatar with its top exports being: Nuclear reactors, boilers, machinery, etc. Natural pearls, precious metals, precious stones, coins, etc. Miscellaneous edible preparations

The state of New Jersey has a corporate income tax, which is dependent on the income for the entity. “The Corporation Business Tax rate is 9% on adjusted entire net income or on the portion allocable to New Jersey. The rate is 7.5% for all corporations with an entire net income of $100,000 or less. The rate is 6.5% for all corporations with an entire net income of $50,000 or less.” New Jersey has 26 incentive programs like the Hazardous Discharge Site Remediation Fund (HDSRF) and the Economic Redevelopment and Growth (ERG) Program. The state’s free trade zones are in Trenton, Newark, Salem, and Lakewood.