New Jersey Nonresident Seller's Tax Prepayment Receipt

Nonresident Seller's Tax Prepayment Receipt
Nonresident Seller’s Tax Prepayment Receipt, Form GIT/REP-2
State of New Jersey

GIT/REP-2	
(10-21) 	

Nonresident Seller’s Tax
Prepayment Receipt

	
(Print or Type)

Seller’s Information
Name(s)

Current Street Address

City, Town, Post Office	

State	

Property Information (Brief Property Description)
Block(s)	

Lot(s)	

ZIP Code

Qualifier

Street Address

City, Town, Post Office	

State	

Seller’s Percentage of Ownership	

Total Consideration	

Seller’s Share of Consideration	

ZIP Code

Closing Date

Seller’s Declaration

The undersigned understands that this declaration and its contents may be disclosed or provided to the New Jersey Division of Taxation
and that any false statement contained herein could be punished by fine, imprisonment, or both. I furthermore declare that I have
examined this declaration and, to the best of my knowledge and belief, it is true, correct, and complete. By checking this box
I certify
that the Power of Attorney to represent the seller(s) has been previously recorded or is being recorded simultaneously with the deed to
which this form is attached.

	

Date	

	

Date	

	

	

	

Signature (Seller)	

Indicate if Power of Attorney or Attorney in Fact

Signature (Seller)	

Indicate if Power of Attorney or Attorney in Fact

By affixing the Seal of the Director, Division of
Taxation, I hereby certify that on

	
		
	
	
	

	

(Date)

payment was received from the seller listed above, in
an amount as required under N.J.S.A. 54A:8-9, but
not less than 2% of the consideration price stated above.

Original Form Must Have a Raised Seal and be Submitted to County Clerk. Photocopies are NOT Acceptable.

GIT/REP-2	
(10-21)

Page 2

Prepayment Receipt Instructions

If this form is not completed in its entirety, the county clerk will not record the deed.
Nonresident individuals, estates, or trusts must complete this form if they are selling or transferring property in New Jersey and want to
prepay the estimated tax.
The seller must complete the GIT/REP-2 and the NJ-1040-ES GIT/REP-1 estimated tax voucher (located at the bottom of Form
GIT/REP-1) and submit them, along with the associated payment, to the Division of Taxation in person at one of the Division’s Regional
Information Centers prior to the closing. A Division employee will stamp the original with the Director’s Seal.
The seller must give the stamped original prepayment receipt to the settlement agent (usually the buyer or the buyer’s attorney) at closing.
The seller should keep a copy for their own records.
Name(s). Enter the name of the seller. If there is more than one seller, each must complete a separate form unless they are a married/civil
union couple that files their Income Tax returns jointly.
Address. Enter the seller’s primary residence or place of business. Do not use the address of the property being sold. The seller is considered a nonresident unless a new residence (permanent place of abode, domicile) has been established in New Jersey and the new residence is listed here. Part-year residents are considered nonresidents.
Property Information. Enter the information listed on the deed of the property being sold. Enter the seller’s percentage of ownership, the
total consideration for the transaction, the seller’s share of that consideration, and the closing date.
Consideration. “Consideration” means, in the case of any deed, the actual amount of money and the monetary value of any other thing
of value constituting the entire compensation paid or to be paid for the transfer of title to the lands, tenements, or other realty, including the
remaining amount of any prior mortgage to which the transfer is subject or that is assumed and agreed to be paid by the grantee and any
other lien or encumbrance not paid, satisfied, or removed in connection with the transfer of title. If there is more than one owner, indicate
the seller’s portion of the total consideration received. If the total consideration for the property is $1,000 or less, complete the Seller’s
Residency Certification/Exemption Form GIT/REP-3 and check box 6 under Seller’s Assurances.
Signature. The seller must sign and date the Seller’s Declaration. If the seller has appointed a representative who is signing the Seller’s
Declaration on their behalf, either the Power of Attorney executed by the seller must have been previously recorded or recorded with
the deed to which this form is attached, or a letter signed by the seller granting authority to the representative to sign this form must be
attached.
Estimated Tax Payment. The amount of the estimated tax payment is determined by multiplying the gain from the sale of the property by
the highest Gross Income Tax rate (10.75%). In the case of estates and trusts, the gain is determined without taking into consideration any
distributions made to the beneficiaries during the tax year. The estimated payment cannot be less than 2% of the consideration received
for the sale. Payment must be made by check or money order payable to the State of New Jersey – Division of Taxation.
Settlement Agent. The settlement agent must file the stamped original Prepayment Receipt and deed with the appropriate county clerk for
recording. If the settlement agent does not submit the stamped original with the deed, the county clerk will not record the deed.
County Clerk. The county clerk will attach the Prepayment Receipt form to the deed when it is recorded.