4 New Jersey Law Changes That May Affect You in 2018
Happy New Year! It's time to start anew in 2018 and to make a list of things to try or do better this year. It's also time to go over some new laws that went into effect on the first day of the new year.
Here's a list of some of the new laws on the books for the Garden State in 2018, according to NJ.com.
- 1
Minimum Wage Increase
The minimum wage across the Garden State is increasing 16 cents for 2018 to $8.60 an hour. That's also a 22 cents bump form 2016.
- 2
Driver's Licence Expiration Date
Here's another new law for 2018. You'll now have to renew your driver's license every four years on your birthday.
New Jersey licences expired on the last day of the month every four years under the old law.
Hopefully this will cut down on your wait when it comes time to renew your driver's license.
- 3
Sales Tax Cut
The sales tax for the Garden State actually dropped from 7 percent to 6.875 percent on January 1st. Happy New Year!
More good news, the sales tax will decrease even further to 6.625 on January 8th, 2018.
- 4
Retirement Income Tax Exclusion Increase
There's a new limit for married couples who file jointly to start paying state income taxes. The figure was $40,000 in 2017 now becomes $60,000 for 2018.
The figure bumps up to $45,000 from $30,000 for individuals.