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New Jersey Ebf 1 Income Tax Get Form

New Jersey Ebf 1 Income Tax Get Form

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Instructions and help about client questionnaire form for msp

all right for this video i wanted to talk about the new jersey state earned income tax credit so the federal earned income tax credit is certainly very popular right that is filed and calculated on your form 1040 every year so the federal earned income tax credit is a tax credit for taxpayers that have earned income and generally have one or more qualifying children now you can get the eitc at the federal level if you don't have any qualifying children and you have earned income that falls below a certain threshold well what a lot of individuals don't know is that many states new jersey included have a state version of the earned income tax credit and the tax credit is calculated as a percentage of the federal portion now new jersey has uh the state eitc and it's generally 40 percent of the federal amount so in order to get started you first have to compute the federal earned income tax credit and then you take a percentage of that on your new jersey return so in this example we have j

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