Form GIT/REP-2 "Nonresident Seller's Tax Prepayment Receipt" - New Jersey

What Is Form GIT/REP-2?

This is a legal form that was released by the New Jersey Department of the Treasury - a government authority operating within New Jersey. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on August 1, 2019;
  • The latest edition provided by the New Jersey Department of the Treasury;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of Form GIT/REP-2 by clicking the link below or browse more documents and templates provided by the New Jersey Department of the Treasury.

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Download Form GIT/REP-2 "Nonresident Seller's Tax Prepayment Receipt" - New Jersey

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State of New Jersey
GIT/REP-2
(8-19)
Nonresident Seller’s Tax
Prepayment Receipt
(Print or Type)
Seller’s Information
Name(s)
Current Street Address
City, Town, Post Office
State
ZIP Code
Property Information (Brief Property Description)
Block(s)
Lot(s)
Qualifier
Street Address
City, Town, Post Office
State
ZIP Code
Seller’s Percentage of Ownership
Total Consideration
Seller’s Share of Consideration
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
Signature (Seller)
Indicate if Power of Attorney or Attorney in Fact
Date
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.
State of New Jersey
GIT/REP-2
(8-19)
Nonresident Seller’s Tax
Prepayment Receipt
(Print or Type)
Seller’s Information
Name(s)
Current Street Address
City, Town, Post Office
State
ZIP Code
Property Information (Brief Property Description)
Block(s)
Lot(s)
Qualifier
Street Address
City, Town, Post Office
State
ZIP Code
Seller’s Percentage of Ownership
Total Consideration
Seller’s Share of Consideration
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
Signature (Seller)
Indicate if Power of Attorney or Attorney in Fact
Date
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
Page 2
(8-19)
Prepayment Receipt Instructions
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.
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. In no case can the estimated payment be less than 2% of
the consideration received for the sale. Payment must be in the form of check or money order made payable to the State of New Jersey
– Division of Taxation.
Failure to complete the form in its entirety will result in the deed not being recorded.
The seller must complete this form and Form NJ-1040-ES and submit it, along with the associated payment, to the Division of Taxation in
person at one of the Division’s offices 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 his or her own records.
The settlement agent must file the stamped original Prepayment Receipt and deed with the appropriate county clerk for recording. If this
form is not completed in its entirety, or if the settlement agent does not submit the stamped original with the deed, the county clerk will not
record the deed.
The county clerk will attach the Prepayment Receipt form to the deed when it is recorded.
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