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New Jersey Income Tax and 403B Plans

An employee worked for a NJ Hospital in 2007 and had gross income of $66,930. Total contributions to the employee 403B plan was $13,846.  The W-2 lists Federal Wages of $53,084 ($66,930 minus $13,846). OK.   The W-2 lists NJ State wages of $63,879.  How did they arrive at this figure -$63,879 ???   Shouldn't it be the gross wages of $66,930 since NJ does not allow a deduction for 403B plans.  I'm confused!! Help!!

 

 


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235 thumbs up

Get educated!

I'm not sure how they came to that figure. I would suggest speaking with an accountant in NJ to find out how these numbers were produced. Good luck.


Posted 3 months ago ( permalink )
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