TRENTON, N.J. — New Jersey collected $3.194 billion from its major taxes in August, an increase of $353.5 million, or 12.4%, compared with the same month last year, according to the state Department of the Treasury.
Treasury said the increase was driven primarily by the Sales and Use Tax and Gross Income Tax, while realty-related taxes also posted gains. Fiscal year-to-date collections totaled $3.832 billion, up $470.3 million, or 14%, from the same period last year.
Gross Income Tax collections, which are dedicated to the Property Tax Relief Fund, totaled $1.365 billion in August, an increase of $106.5 million, or 8.5%. Treasury attributed the increase primarily to higher employer withholding and estimated payments, along with lower refunds.
Sales and Use Tax collections totaled $1.328 billion, up $165.9 million, or 14.3%, from last August. Because of a one-month lag in reporting and payments, August sales tax revenue reflects consumer activity in July. Treasury said growth appeared to be influenced by several areas of economic activity, particularly technology-oriented sectors.
Corporation Business Tax collections totaled $1.2 million for the month, an improvement of $39.2 million compared with August 2025, when collections were negative $38 million. Treasury said the year-over-year change was primarily due to significantly lower refunds. August is typically one of the lowest collection months for the tax.
Realty Transfer Fee revenue totaled $61 million, up $9.4 million, or 18.2%, while the Graduated Percent Fee generated $68.4 million, an increase of $38.8 million, or 131.5%, compared with last August.
Treasury cautioned that the first two months of the fiscal year are less significant than most other months. September collections are typically larger than July and August combined because of quarterly estimated payments due under several major state taxes.
