| Author |
Message |
    
1-2many
Citizen
Username: Wbg69
Post Number: 841
Registered: 6-2002
| | Posted on Monday, February 2, 2004 - 8:16 pm: | 
|
from what I've found on NJ's website, 401k contributions are excludible from income subject to NJ income tax. why, then, do my w-2s NEVER fully deduct the 401k contribution when calculating the box identified as "state tax" (box 16)? should I manually adjust? thanks. |
oots
Citizen
Username: Oots
Post Number: 113
Registered: 6-2001
| | Posted on Monday, February 2, 2004 - 9:40 pm: |
|
are you sure it is a 401k plan or a 403b or something else. NJ only allows a 401k on a pre tax basis. if it is a 401k and your nj wages do not reflect it-talk to your p/r dept. if you have a flex spending or sec 125 plan-these are not allowed on a pretax basis for nj-so there may be other adjustments being made.
oots |
1-2many
Citizen
Username: Wbg69
Post Number: 842
Registered: 6-2002
| | Posted on Wednesday, February 4, 2004 - 10:46 am: |
|
thanks, oots - you're right, that's it, the 125 plan is deducted from medicare wages (which I didn't realize) and then added back to NJ wages. taxes are too confusing! thanks for the help! |
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