Bulletin: NJ2020001

Dear Associates:

Changes have been made to the New Jersey GIT/REP-1, GIT/REP-2, GIT/REP-3, and GITREP-4 Forms. The new forms include the date “(8-19)”. Please take the opportunity to familiarize yourself with the new forms. Specifically, the following changes were made to the forms:

• The GIT/REP-1 and GIT/REP-2 forms now state that the highest gross income tax rate is 10.75%.
• The GIT/REP-3 form has two new categories of exemption:
  • #15. The seller is a retirement trust that received an acknowledgment letter from the Internal Revenue Service that the seller is a retirement trust and is therefore not required to make the estimated Gross Income Tax payment.
  • # 16. The seller (and/or spouse/civil union partner) originally purchased the property while a resident of New Jersey as a member of the U.S. Armed Forces and is now selling the property as a result of being deployed on active duty outside of New Jersey. (Only check this box if applicable and neither boxes 1 nor 2 apply.)
• GIT/REP-4 added a new instruction line: “Do not use this form to claim a refund. See Form A-3128”.

Current versions of these forms, and all other New Jersey tax forms, can be found by clicking here.

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