If you’re a non-resident selling investment real estate in New Jersey, there’s a unique NJ tax you should be aware of. Both residents and non-residents always had to pay income tax on the gain upon the sale of real estate. This tax is required to be withheld for non-residents. The “Exit Tax”, which came into law six years ago, requires the seller to file a GIT/REP form (Gross Income Tax form) in order to record a Deed for the transfer of his property. When a non-resident sells the…
ContinueAdded by Pamela Avraham on October 31, 2013 at 3:59pm — No Comments
The new 3.8% net investment income surtax is here. Click here to find out what you can do about it: Tax Tips for Net Investment Surtax
Added by Pamela Avraham on October 29, 2013 at 5:32pm — No Comments