Estimate your self-employment tax in Elizabeth for 2026: the 15.3% SE tax, the deductible half, federal income tax, state income tax, and quarterly payments.
Last updated: May 2026 · Data: MIT Living Wage Calculator, C2ER, U.S. Census, BLS, IRS, state and city sources
Elizabeth self-employed workers pay federal SE tax and federal income tax, plus New Jersey state income tax (1.4% to 10.75%). New Jersey has seven income tax brackets with a top rate of 10.75% on income over $1 million. The state has no sales tax on groceries, clothing, or medications.
| Net Profit | SE Tax | Half-SE Deduction | Total Est. Tax | Per Quarter |
|---|---|---|---|---|
| $30,000 | $4,239 | $2,119 | $5,726 | $1,432 |
| $50,000 | $7,065 | $3,532 | $11,083 | $2,771 |
| $75,000 | $10,597 | $5,299 | $19,075 | $4,769 |
| $100,000 | $14,130 | $7,065 | $29,028 | $7,257 |
| $150,000 | $21,194 | $10,597 | $49,696 | $12,424 |
Single filer, standard deduction. Total tax = SE tax + federal income tax + New Jersey state tax. Estimates only.
Elizabeth is a major port and industrial city just south of Newark, home to the container terminals of Port Newark-Elizabeth (the busiest on the East Coast) and a large retail and logistics economy, with a dense, heavily immigrant population.
| Local Metric | Elizabeth (2026 estimate) |
|---|---|
| Metro population | 135,000 |
| County / jurisdiction | Union County |
| Cost of living index (US avg = 100) | 108 |
| MIT living wage, single adult | $22.50/hour |
| MIT living wage, one earner supporting a family of four | $45.00/hour |
| Applicable minimum wage | $15.49/hour |
| Average rent, 1-bedroom | $1,650/month |
| Average rent, 2-bedroom | $2,000/month |
| Median home price | $430,000 |
| Median household income | $50,000/year |
| Combined sales tax rate | 6.625% |
| Effective property tax rate | 2.9% of value/year |
Local figures are 2026 estimates compiled from the MIT Living Wage Calculator, the C2ER Cost of Living Index, U.S. Census and Zillow housing data, and city and county sources. Verify current figures before relying on them.
The federal SE tax rate is 15.3% (12.4% Social Security plus 2.9% Medicare), the same in Elizabeth as everywhere. It applies to 92.35% of net profit; Social Security stops at $176,100 of net earnings.
New Jersey taxes self-employment income as ordinary income (1.4% to 10.75%), so Elizabeth freelancers owe state tax on top of federal.
On $60,000 of net profit in Elizabeth, estimated total tax (SE plus federal plus state) is about $13,890, or roughly $3,473 per quarter.
Elizabeth does not levy a local self-employment or income tax. Business owners should still budget for any required local license.
Business expenses that lower net profit (equipment, software, home office, mileage) reduce both SE tax and income tax. The deductible half of SE tax, self-employed health insurance, and retirement contributions reduce income tax.