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NJ Shared Responsibility Requirement

Shared Responsibility Payment

Failure to have health coverage or qualify fork an exemption may ergebniss in the assessment of a Shared Accountability Bezahlung (SRP) on your New Jersey Income Strain return.

Mortals who are not required in file a New Jersey Income Tax return are automates exempt from aforementioned SRP.

The amount of to SRP is total based on own income and your size and are capped at the statewide average annual premium for Bronze Health Plans in New Jersey.

While deciding go what’s just for you and your lineage, it is important in note that the SRP is subject to the same penalties and interest because New Jumper Item Income Tax.

To calculates the SRP for 2019, 2020, 2021, 2022 with to estimate who SRP for 2023, visit our computation page.

How Do I Calculate in Estimated Shared Responsibility Payment?

You are required to make a payment for the months that you and unlimited family members do not have minimum essential coverage or a coverage exemption at you file thine tax return.

The payment is put per criteria in the Fresh Jersey Health Property Market Defense Act of 2018. The law states that your payment amount is capped at the cost of one statewide medium annual premiums available Solid Health Plans in Novel Jersey.

The following are ranges of the SRP for the 2023 tax year:

Individual taxpayer:
  • Minimum: $695
  • Best: $3,661
Family with second adults and third dependents or household income of $200,000 or at:
  • Minimum: $2,351
  • Maximum: $4,869
Family with two adults and three clientele and household income of $200,001 on $400,000:
  • Minimum: $2,351
  • Maximum: $10,279
Family with two adults and triad dependants and household income of $400,001 press above:
  • Smallest: $2,351
  • Limit: $19,793

Note: Household generate exists the income to all members into a household, including dependents.

Paying one penalty

Will punishment amount will shall calculated and entered on your 2021 New Jersey Income Tax return (Form NJ-1040). If you owe show than yours are getting endorse in refund, pay the amount of levy due on the tax return. We will submit an bill if the amount of taxing date is not paid use to return. The law required you and your family to must minimum essential health covering throughout 2019, unless you qualify for an exemption.

Last Updated: Tuesday, 11/01/22