Division of TaxationN.J.S.A. 54A:8-8 through 8-10 require that nonresident sellers, transferors, and grantors, pay estimated gross income tax in the amount of 2% of the consideration paid on their sale of real property in New Jersey. The nonresident must remit the payment to the Division of Taxation before or at the closing and file the estimated gross income tax form, whether or not they have a gain on the sale or transfer. However, New Jersey recognizes certain exemptions and allows for a waiver of the estimated tax payment requirement, if appropriate, on Forms GIT/REP-3 and GIT/REP-4.
FAQ on GIT Forms Requirements for Sale/Transfer of Real Property in New Jersey
Electronic Signatures and the GIT/REP Forms
Official Site of The State of New Jersey