Government budget and revenue in New Jersey, United States: official figures
New Jersey's state government took in $100.7 billion in fiscal year 2024, $10,593 per resident, 15th highest of 50 states per person (all states: $9,318 per person). The total includes taxes, federal funds, charges and pension-fund investment income.
How much does the New Jersey state government spend?
The New Jersey state government spent $97.2 billion in fiscal year 2024, or $10,223 per resident, 16th highest of 50 states (all states: $9,444). Spending was 9.5% higher than in fiscal year 2019 ($88.7 billion), before adjusting for inflation.
Source: U.S. Census Bureau · saved copyHow much debt does the New Jersey state government have?
New Jersey state government debt outstanding was $57.2 billion at the end of fiscal year 2024, $6,020 per resident, 9th highest of 50 states (all states: $3,248). That equals 57% of one year's general revenue; in fiscal year 2019 the debt was $63.8 billion.
Source: U.S. Census Bureau · saved copyHow much federal funding does New Jersey get?
The federal government provided $29.7 billion to the New Jersey state government in fiscal year 2024, $3,125 per resident and 29.8% of its general revenue, 10th lowest share of 50 states (all states: 34.2%).
Source: U.S. Census Bureau · saved copyWhat are federal funds to New Jersey spent on?
Public welfare programmes, mainly Medicaid, accounted for $16.2 billion or 55% of New Jersey's federal funds in fiscal year 2024, and education for $2.6 billion (9%).
Source: U.S. Census Bureau · saved copyWhat does the New Jersey state government spend its money on?
Direct state spending on public welfare was $2,953 per resident in fiscal year 2024, 23rd highest of 50 states (all states: $3,000); higher education took $742 per resident and highways $419.
Source: U.S. Census Bureau · saved copyHow much does New Jersey give to local governments and schools?
24.1% of New Jersey's state general spending in fiscal year 2024 ($22.3 billion) was paid to other governments, mostly local governments and school districts, 24th lowest share of 50 states (all states: 27.7%).
Source: U.S. Census Bureau · saved copyHow much tax does New Jersey collect?
New Jersey collected $54.1 billion in state taxes in fiscal year 2025, $5,662 per resident, 11th highest of 50 states (all states: $4,503). That was 6.8% more than in fiscal year 2024 ($50.6 billion); across all states collections rose 4.3%.
Source: U.S. Census Bureau · saved copyWhat taxes does New Jersey rely on?
The individual income tax raised $21.0 billion (38.9% of state taxes, 16th highest share of 50 states) in fiscal year 2025. The general sales tax raised $14.8 billion (27.4%, 21st lowest share of 50 states). The largest single tax was the individual income tax (38.9%), followed by the general sales and gross receipts tax (27.4%).
Source: U.S. Census Bureau · saved copyDoes New Jersey have corporate, property or severance taxes?
In fiscal year 2025, in New Jersey, corporate net income tax raised $8.4 billion (15.6% of state taxes); state property tax raised $4.9 million; no severance tax on oil, gas, coal and minerals was collected.
Source: U.S. Census Bureau · saved copyHow much money does the New Jersey state government hold in reserves?
The New Jersey state government held $105.9 billion in cash and securities at the end of fiscal year 2024, $11,137 per resident, of which $102.4 billion was in insurance trust funds such as public employee pension systems.
Source: U.S. Census Bureau · saved copyHow New Jersey compares with other states
State government revenue per person (2024)
New Jersey ranks 15 of 50, highest first. All revenue of the state government, including insurance trust income, divided by 1 July population
| Rank | Region | State government revenue per person |
|---|---|---|
| 12 | Rhode Island | $11,182 |
| 13 | Minnesota | $10,873 |
| 14 | Connecticut | $10,689 |
| 15 | New Jersey | $10,593 |
| 16 | Kentucky | $10,585 |
| 17 | West Virginia | $10,535 |
| 18 | Iowa | $10,005 |
State government spending per person (2024)
New Jersey ranks 16 of 50, highest first. Total expenditure of the state government divided by 1 July population
| Rank | Region | State government spending per person |
|---|---|---|
| 13 | West Virginia | $10,880 |
| 14 | Minnesota | $10,565 |
| 15 | Kentucky | $10,405 |
| 16 | New Jersey | $10,223 |
| 17 | Maryland | $10,187 |
| 18 | Washington | $10,050 |
| 19 | Louisiana | $10,008 |
State government debt per person (2024)
New Jersey ranks 9 of 50, highest first. Debt outstanding at the end of the fiscal year divided by 1 July population
| Rank | Region | State government debt per person |
|---|---|---|
| 6 | Alaska | $7,768 |
| 7 | North Dakota | $6,163 |
| 8 | New York | $6,029 |
| 9 | New Jersey | $6,020 |
| 10 | New Hampshire | $5,379 |
| 11 | South Dakota | $5,032 |
| 12 | California | $4,227 |
Federal funds received by the state government per person (2024)
New Jersey ranks 32 of 50, highest first. Intergovernmental revenue from the federal government
| Rank | Region | Federal funds received by the state government per person |
|---|---|---|
| 29 | Iowa | $3,219 |
| 30 | Missouri | $3,188 |
| 31 | Connecticut | $3,157 |
| 32 | New Jersey | $3,125 |
| 33 | South Dakota | $3,058 |
| 34 | Nebraska | $2,944 |
| 35 | North Carolina | $2,843 |
Federal funds as a share of state general revenue (2024)
New Jersey ranks 41 of 50, highest first.
| Rank | Region | Federal funds as a share of state general revenue |
|---|---|---|
| 38 | Wisconsin | 30.3% |
| 39 | Washington | 30.2% |
| 40 | Massachusetts | 29.8% |
| 41 | New Jersey | 29.8% |
| 42 | Connecticut | 29.6% |
| 43 | Delaware | 28.9% |
| 44 | Idaho | 28.8% |
State tax collections per person (2025)
New Jersey ranks 11 of 50, highest first.
| Rank | Region | State tax collections per person |
|---|---|---|
| 8 | Delaware | $6,557 |
| 9 | Massachusetts | $6,454 |
| 10 | Minnesota | $6,327 |
| 11 | New Jersey | $5,662 |
| 12 | Illinois | $5,606 |
| 13 | Maryland | $5,255 |
| 14 | Washington | $4,920 |
Individual income tax as a share of state taxes (2025)
New Jersey ranks 16 of 50, highest first.
| Rank | Region | Individual income tax as a share of state taxes |
|---|---|---|
| 13 | Wisconsin | 40.4% |
| 14 | Delaware | 39.6% |
| 15 | Maine | 39.5% |
| 16 | New Jersey | 38.9% |
| 17 | Minnesota | 37.8% |
| 18 | Oklahoma | 37.5% |
| 19 | Kansas | 35.6% |
General sales tax as a share of state taxes (2025)
New Jersey ranks 30 of 50, highest first.
| Rank | Region | General sales tax as a share of state taxes |
|---|---|---|
| 27 | New Mexico | 30.3% |
| 28 | Missouri | 29.7% |
| 29 | Pennsylvania | 28.5% |
| 30 | New Jersey | 27.4% |
| 31 | Alabama | 27.2% |
| 32 | Georgia | 27.2% |
| 33 | West Virginia | 27.1% |
State spending on public welfare per person (2024)
New Jersey ranks 23 of 50, highest first. Direct general expenditure on public welfare, mainly Medicaid
| Rank | Region | State spending on public welfare per person |
|---|---|---|
| 20 | Illinois | $3,246 |
| 21 | Iowa | $3,175 |
| 22 | Pennsylvania | $3,019 |
| 23 | New Jersey | $2,953 |
| 24 | Hawaii | $2,912 |
| 25 | North Carolina | $2,802 |
| 26 | Arkansas | $2,800 |
More on New Jersey: overview · economy and jobs · health · education and schools · poverty and living standards · the United States
Sources
- U.S. Census Bureau: Annual Survey of State Government Finances: State Government Finances, U.S. and States, 2012-2024 (table GS00STATEFIN01, amounts in thousands of dollars), read 23 October 2026 · saved copy (SHA-256 72ff59b48414…)
- U.S. Census Bureau: Annual Survey of State Government Tax Collections: historical database, fiscal years to 2025 (thousands of dollars), read 23 October 2026 · saved copy (SHA-256 bdf560cd3d8f…)
Each saved copy is the file exactly as downloaded, kept so the figures can be checked even if the source changes. Report an error.