How much tax is on a gallon of gas in New Jersey?

How much tax is on a gallon of gas in New Jersey?

At 50.7 cents a gallon, New Jersey has the fourth-highest gas tax in the country, according to Tax Foundation, a nonprofit tax policy center. If no other state’s gas tax falls, then the 42.4 cent per gallon level that takes effect Oct. 1 would drop New Jersey down to 11th place.

What state has the highest gas tax per gallon?

California pumps out the highest state gas tax rate of 66.98 cents per gallon, followed by Illinois (59.56 cpg), Pennsylvania (58.7 cpg), and New Jersey (50.7 cpg).

What does NJ gas tax pay for?

When drivers pay gas taxes in New Jersey, the money goes into its Transportation Trust Fund (TTF), which support repairs and renovations to the state’s roadways and bridges.

Why is gas going up in NJ?

Gas prices increased once again in New Jersey and around the nation amid concerns about the effect of rising COVID-19 infection rates on demand. AAA Mid-Atlantic says the average price of a gallon of regular gas in New Jersey on Friday was $3.20 up a penny from a week ago.

What is the gas tax rate in New Jersey?

New Jersey Gas Tax. The New Jersey excise tax on gasoline is 10.50ยข per gallon, one of the lowest gas taxes in the country. New Jersey’s excise tax on gasoline is ranked #49 out of the 50 states.

What state has the most gas taxes?

New York has the highest gas tax, Alaska has the lowest But on top of that, each state levies its own individual gas taxes to fund state and local transportation spending. This varies fairly widely from state to state. New York has the highest state and local taxes at 50.50 per gallon.

What is the current gas tax?

The current federal gasoline tax is 18.4 cents per gallon, according to the U.S. Energy Information Administration. The duty rises to 24.4 cents per gallon for diesel. Congress has not raised the federal gas tax since 1993.

How much tax percentage is New Jersey taxes?

The state general sales tax rate of New Jersey is 6.625%. New Jersey cities and/or municipalities don’t have a city sales tax. Every 2021 combined rates mentioned above are the results of New Jersey state rate (6.625%).