OT: Stay in NJ program question

[DHajekRC1984]

There is no Exit Tax. NJ requires the withholding for when people move out of state because they were not filing the income tax return that was due when they moved. If they file their return they just enter that amount as part of the withholding.

This type of withholding originated because out of state owners of land were selling to companies like Wawa and never paid NJ any tax that was due.

Prepayment of potential Cap. Gains tax..in essense a state escrow not a tax.

 

[DHajekRC1984]

The check we just received. We will get another in November

Yup.. i was just being nerdy.

 

[tom1944]

Senior Freeze payments are issued first, on a payment schedule, depending on when you apply. The earliest payment will be issued July 15, 2025. ANCHOR payments will start September 15 and continue on a rolling basis, with most applicants receiving payment within 90 days, unless additional information is required. Stay NJ payments will be made quarterly beginning in 2026, with payments scheduled for February, May, August, and November. February and May payments are subject to the Fiscal Year 2026 State Budget, and August and November payments are subject to the Fiscal Year 2027 State Budget.