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Form 1040 (Schedule A) for New Jersey: What You Should Know

New Jersey income taxes on unemployment insurance benefits are calculated on the base for Unemployment Insurance benefits which is 10% of your net earnings as determined by your New Jersey tax table or wage table. Your net earnings for the year can be calculated by dividing your adjusted gross income by your average weekly earnings for the year. (In the state of New Jersey your average weekly earnings and net earnings can differ slightly based on the specific unemployment insurance benefit schedule that applies to you. You can go to the New Jersey Division of Unemployment Insurance for a specific list of benefits.) In general, all earnings in excess of 7,830.00, plus any amount of earnings withheld under FICA on Form W-2, are subject to New Jersey income tax on the net earnings. However, your unemployment insurance benefits are included in your wages for purposes of determining net earnings. You will receive the amount of your benefits based on the unemployment insurance benefit schedule which you pay (See N.J.S.A. 26:2-3.2(f) above). Your state minimum wage (NEW) will likely also influence the amount of your benefits. For 2017, in New Jersey you can receive as much as 854.00 an hour if you have worked at least 80 hours in one of New Jersey's six counties or a minimum wage of 10.30 an hour if you have worked at least 40 hours in those six counties in the three months before applying for unemployment benefits. These federal (FICA) earnings will be deducted in the year in which you claim your unemployment to avoid double reporting. If you are claiming unemployment benefits in addition to federal disability tax (FTA), you may be subject to a “base” limit of FTA unemployment taxes. Please check the Unemployment Insurance webpage for FTA information. You may be also be subject to state unemployment taxes if you work for any other program other than unemployment insurance. FTA rules may also be applied to dependents and/or additional income. Please check the Unemployment Insurance webpage for more information. You also will have to pay additional income taxes on your earnings. See the U.S. Department of Labor's website for more information about FICA taxes. If these rules apply to you, they can affect your unemployment insurance benefits. However, these rules are not set in stone. As you may know, the formula for determining FTA can change over time.

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