Compare New Jersey vs Wyoming Paychecks
VSDetailed comparison of tax rates, cost of living, and quality of life
📌 Annual variance runs about $9,138 at $85,000 when comparing 10.75% versus no income tax. Wyoming maintains appeal through no income tax. commuters demographics lean Wyoming for financial reasons; ranchers sectors prefer New Jersey despite tax differential.
The tax picture between New Jersey and Wyoming breaks down like this: 10.75% versus no income tax. For someone making $85,000, we're talking about $9,138 in annual difference. That's significant, but it's worth looking at what else each state brings to the table.
🔑 Key Differences
- **State income tax**: New Jersey at 10.75% vs Wyoming at no income tax
- **Annual savings** (on $85,000): Wyoming saves you ~$9,138
- **Tax system**: Both use progressive brackets
- **Deductions**: Standard federal deductions apply, state variations exist
- **Local taxes**: Check your specific county/city as rates vary within states
Tax Comparison
| Tax Type | New Jersey | Wyoming |
|---|---|---|
| State Income Tax | 1.4% - 10.75% | No Income Tax Winner |
| 💰 On $40,000 Salary |
State Tax: $2,430
Take Home: $37,570
|
State Tax: $0
Take Home: $40,000
+$2,430
|
| 💰 On $60,000 Salary |
State Tax: $3,645
Take Home: $56,355
|
State Tax: $0
Take Home: $60,000
+$3,645
|
| 💰 On $100,000 Salary |
State Tax: $6,075
Take Home: $93,925
|
State Tax: $0
Take Home: $100,000
+$6,075
|
| Cost of Living | New Jersey ranks among America's most expensive states. Property taxes top national charts - median exceeding $9,000 annually. Housing prices demand significant income, particularly in areas with NYC access or strong schools. Auto insurance costs among highest nationally. General expenses elevated. Some areas require six-figure household incomes for comfortable middle-class living. The cost burden means even substantial salaries face pressure from taxes and elevated living expenses. | Wyoming offers exceptional affordability throughout most areas. Jackson commands premium prices driven by wealthy residents and tourism. Cheyenne, Casper, and other cities maintain housing costs dramatically below national averages - quality homes often sell for $200,000-350,000. Property taxes stay low. Sales tax reaches 5-6%. The extreme affordability combined with no income tax means moderate salaries provide comfortable lifestyles for those accepting harsh winters and remote locations. |
Pros & Cons
New Jersey
✓ Advantages
- Proximity to NYC and Philadelphia job markets without those cities' taxes
- Strong pharmaceutical and biotech industries
- Excellent public transportation in some areas
- Good school systems in many districts
- Shore access and diverse geography
⚠ Considerations
- High state income tax reaching 10.75% at top brackets
- Highest property taxes in America
- Very high cost of living overall
- Expensive auto insurance rates
- Heavy traffic and congestion in many areas
Wyoming
✓ Advantages
- No state income tax
- No state estate or inheritance tax
- Low cost of living in most areas
- Beautiful natural scenery and outdoor recreation
- Strong energy and natural resources sector
⚠ Considerations
- Very cold winters with harsh weather
- Limited job market outside energy sector
- Small population and remote locations
- Limited healthcare and education options in some areas
- Economic volatility tied to energy prices
Bottom Line
The tax advantage goes to Wyoming by roughly $9,138 per year at $85,000. New Jersey keeps competitive by providing no income tax. Whether you prioritize that savings or New Jersey's advantages in {factor} typically determines which state works better for you.📢 Share This Comparison
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