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  • Seller Residency Certificationexemption C 55 Pl 2004 Form

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GIT/REP-3 (6-10) State of New Jersey SELLER S RESIDENCY CERTIFICATION/EXEMPTION (C.55, P.L. 2004) (Please Print or Type) SELLER(S) INFORMATION (See Instructions, Page 2) Name(s) Current Resident Address:.

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How to fill out the Seller Residency Certificationexemption C 55 Pl 2004 Form online

Filling out the Seller Residency Certificationexemption C 55 Pl 2004 form is a critical step for individuals, estates, or trusts selling property in New Jersey. This guide provides comprehensive, step-by-step instructions to help you complete the form online efficiently.

Follow the steps to complete the form accurately.

  1. Click the ‘Get Form’ button to retrieve the Seller Residency Certificationexemption C 55 Pl 2004 form and open it in your preferred online editing tool.
  2. In the 'Seller(s) Information' section, enter the names of all sellers. If there is more than one seller, separate forms must be used, except for partners who file jointly. Provide the current residential address, including street, city, state, and zip code.
  3. In the 'Property Information' section, include a brief description of the property. Fill in the block number, lot number, qualifier, street address, city, state, zip code, percentage of ownership, and total consideration for the property. The total consideration refers to the full monetary value exchanged for the property.
  4. Review the 'Seller Assurances' section. Check the box that applies to your situation, confirming eligibility for an exemption from gross income tax payment. Ensure that you understand each assurance, as this determines your tax obligations.
  5. In the 'Seller(s) Declaration' section, read the declaration carefully. Sign and date the form, ensuring accuracy and completeness. If a representative is signing on behalf of the seller(s), ensure that a Power of Attorney is appropriately recorded.
  6. Once the form is fully completed, save the changes. You can download, print, or share the form as necessary for submission. Ensure you have the final version ready for your closing process.

Complete your Seller Residency Certificationexemption C 55 Pl 2004 form online today to ensure a smooth property transaction.

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“The real property sold or transferred is used exclusively as a principal residence as defined in 26 U.S. Code section 12. Since your home was your principal residence for at least 24 out of the prior 60 months there will be no taxable gain and no estimated tax payment will be required,” Kiely said.

The New Jersey exit tax requires you to withhold either 8.97 percent of the profit/capital gain you make on the sale of your home or 2 percent of the total sale price: whichever is higher.

Seller's Residency Certification/Exemption Instructions Individuals, estates, trusts, or any other entity selling or transferring property in New Jersey must complete this form if they are not subject to the Gross Income Tax estimated payment requirements under N.J.S.A.

Nonresident Taxpayers: Nonresident sellers are required to pay estimated Gross Income Tax in the amount of 2% of the consideration or 8.97% of the net gain from the sale, before or at the time of closing.

It is your obligation to file a California tax return, pay any tax due and claim any real estate withholding payment on your California tax return. » The standard withholding is 3.3% of the purchase price of the property, in ance with California Revenue and Taxation Code Section 18662.

Realty Transfer Fee: Sellers pay a 1% Realty Transfer Fee on all home sales. The buyer is not responsible for this fee. However, buyers may pay an additional 1% fee on all home sales of $1 million or more. You can find more information on the Realty Transfer Fee, including rates and exemptions, here.

What is a GIT/REP (real property) form? A GIT/REP form is a Gross Income Tax form required to be recorded with a deed when real property is transferred or sold in New Jersey.

As part of the sale of a New Jersey home by a non-resident, the seller must pay an estimated gross income tax to the New Jersey Department of Taxation that is appropriate to the sale amount; NJ Rev Stat § 54A:8-10 through 8-10 note that that amount should be no less than 2 percent of the sale amount.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232