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New Jersey Free Printable NJ-W-4P for 2024 New Jersey Certificate of Voluntary Withholding New Jersey Gross Income Tax from Pension and Annuity Payments.

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Certificate of Voluntary Withholding New Jersey Gross Income Tax from Pension and Annuity Payments.
NJ-W-4P

Form NJ-W-4P NJ-W-4P (04-17)  CERTIFICATE OF VOLUNTARY WITHHOLDING OF NEW JERSEY GROSS INCOME TAX FROM PENSION AND ANNUITY PAYMENTS Print Your Full Name Your Social Security Number - - Home Address City or Town State Zip Code ID Number of Your Pension or Annuity (From Your Statement or Contact Your Payer): ________________________ I want to have New Jersey Gross Income Tax withheld from this pension or annuity payment in the amount of $ .00 (Enter a whole dollar amount of $10 or more for each payment.) I want to stop withholding New Jersey Income Tax from this pension or annuity payment. Your Signature Date MAIL THIS FORM TO YOUR PENSION OR ANNUITY PAYER FORM MAY BE REPRODUCED You can use Form NJ-W-4P to notify your pension payer to begin, change, or stop withholding New Jersey Income Tax from your pension or annuity payments. Note: If you previously completed this form, do not file again unless you want to make a change. Instructions  Fill in your name, address, and Social Security Number;  Enter the identification number of your pension or annuity contract. If you do not find this number on your annual pension or annuity statement, ask your pension plan administrator;  Check only one box. If you are requesting to have Income Tax withheld, you also must enter the amount you want deducted from each payment;  Sign and date the completed form;  Mail this form to the payer of your pension or annuity. If you do not have the mailing address, you must contact your payer. For State of New Jersey retirees and benefit recipients only, visit the New Jersey Division of Pensions and Benefits for mailing information. Why should I file this form? Your pension or annuity may be taxable and you may owe tax when you file your New Jersey Income Tax return. Use this form to have the payer of your pension or annuity withhold New Jersey Income Tax for you. If you choose not to withhold New Jersey Income Tax, you may be required to make estimated tax payments. Note: If you do not expect to owe Income Tax to New Jersey at the end of the tax year, do not request to have New Jersey Income Tax withheld. www.njtaxation.org Is my pension or annuity taxable to New Jersey? If you will recover 100% of your contributions to your pension or annuity within 36 months of your first payment, your pension does not become taxable until you exceed your contributions. If it will take longer than 36 months from the date of your first payment to recover 100% of your contributions, use the General Rule Method to determine the taxable portion of your pension. If your income for the entire year is not more than $20,000 ($10,000 if your filing status is single or married/CU partner filing separate return), you have no tax liability to New Jersey. Your pension is not subject to New Jersey tax if:    You were not a resident of New Jersey while receiving your pension or annuity payments. It is a military pension resulting from service in the United States Army, Navy, Air Force, Marine Corps or Coast Guard. It is a pension received because of total and permanent disability and you are less than 65 years of age. Note: If you continue to receive pension payments after you turn 65, your disability pension is then treated as an ordinary pension and taxable beginning that year. For more information on the taxability of your pension or annuity, visit publication  GIT-1, Pensions and Annuities. What amount of tax should I withhold? To determine the amount of income tax to withhold, first estimate your expected New Jersey taxable income and tax liability. Be sure to consider all sources of income you (and your spouse, if filing jointly) have in the tax year and subtract any New Jersey tax exemptions, exclusions, and/or deductions. Refer to the NJ-1040 instructions or use publication GIT-8, Estimating Income Taxes to help estimate your income and tax liability. If you have an estimated New Jersey tax liability, use the worksheet below to calculate the amount of tax to withhold: 1. Estimated tax liability for the tax year $ ___________ 2. New Jersey Income Tax paid/withheld by other sources $ ___________ 3. Balance of tax (Subtract line 2 from line 1) $ ___________ 4. Number of pension or annuity payments in the tax year 5. Amount of tax to withhold from each payment (Divide line 3 by line 4) ___________ $ ___________ What if I have questions? If you have general questions, contact the New Jersey Division of Taxation Customer Service Center at (609) 292-6400. Agents are available Monday through Friday 8:30 a.m. to 4:30 p.m. – except State holidays.  www.njtaxation.org
Extracted from PDF file 2023-new-jersey-form-nj-w-4p.pdf, last modified May 2017

More about the New Jersey Form NJ-W-4P Individual Income Tax TY 2023

We last updated the Certificate of Voluntary Withholding New Jersey Gross Income Tax from Pension and Annuity Payments. in January 2024, so this is the latest version of Form NJ-W-4P, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form NJ-W-4P directly from TaxFormFinder. You can print other New Jersey tax forms here.

Related New Jersey Individual Income Tax Forms:

TaxFormFinder has an additional 95 New Jersey income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the New Jersey Form NJ-W-4P.

Form Code Form Name
Form NJ-W-4 Employee's Withholding Allowance Certificate
Form NJ-W-3M Reconciliation of Tax Withheld

Download all NJ tax forms View all 96 New Jersey Income Tax Forms


Form Sources:

New Jersey usually releases forms for the current tax year between January and April. We last updated New Jersey Form NJ-W-4P from the Division of Revenue in January 2024.

Show Sources >

About the Individual Income Tax

The IRS and most states collect a personal income tax, which is paid throughout the year via tax withholding or estimated income tax payments.

Most taxpayers are required to file a yearly income tax return in April to both the Internal Revenue Service and their state's revenue department, which will result in either a tax refund of excess withheld income or a tax payment if the withholding does not cover the taxpayer's entire liability. Every taxpayer's situation is different - please consult a CPA or licensed tax preparer to ensure that you are filing the correct tax forms!

Historical Past-Year Versions of New Jersey Form NJ-W-4P

We have a total of thirteen past-year versions of Form NJ-W-4P in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:



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