One of the benefits of an S corporation ownership structure is a payroll tax advantage. An S corporation owner will pay payroll tax on his or her salary, but not on the entire amount of corporate profit. For example, if a corporation’s profit would be $500,000 without factoring in the owner’s salary, and the owner

On June 30, Governor Corzine signed into law the 2010 state budget bill. Included in the bill are increases in the personal income tax rates for New Jersey taxpayers for one year, retroactive to January 1, 2009.
For taxpayers with taxable income in excess of $400,000 but less than $500,000, the tax rate increases from