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New Jersey Free Printable GIT/REP-3 Seller's Residency Certification/Exemption for 2024 New Jersey Seller's Residency Certification/Exemption

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Seller's Residency Certification/Exemption
GIT/REP-3 Seller's Residency Certification/Exemption

State of New Jersey GIT/REP-3 (11-23) Seller’s Residency Certification/Exemption (Print or Type) Seller’s Information Name(s) Current Street Address City, Town, Post Office Property Information Block(s) State Lot(s) ZIP Code Qualifier Street Address City, Town, Post Office Seller’s Percentage of Ownership State Total Consideration ZIP Code Owner’s Share of Consideration Closing Date Seller’s Assurances (Check the Appropriate Box) (Boxes 2 through 16 apply to Residents and Nonresidents) 1. Seller is a resident taxpayer (individual, estate, or trust) of the State of New Jersey pursuant to the New Jersey Gross Income Tax Act, will file a resident Gross Income Tax return, and will pay any applicable taxes on any gain or income from the disposition of this property. 2. The real property sold or transferred is used exclusively as a principal residence as defined in 26 U.S. Code section 121. 3. Seller is a mortgagor conveying the mortgaged property to a mortgagee in foreclosure or in a transfer in lieu of foreclosure with no additional consideration. 4. Seller, transferor, or transferee is an agency or authority of the United States of America, an agency or authority of the State of New Jersey, the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, the Government National Mortgage Association, or a private mortgage insurance company. 5. Seller is not an individual, estate, or trust and is not required to make an estimated Gross Income Tax payment. 6. The total consideration for the property is $1,000 or less so the seller is not required to make an estimated Income Tax payment. 7. The gain from the sale is not recognized for federal income tax purposes under 26 U.S. Code section 721, 1031, or 1033 (CIRCLE THE APPLICABLE SECTION). If the indicated section does not ultimately apply to this transaction, the seller acknowledges the obligation to file a New Jersey Income Tax return for the year of the sale and report the recognized gain. Seller did not receive non-like kind property. 8. The real property is being transferred by an executor or administrator of a decedent to a devisee or heir to effect distribution of the decedent’s estate in accordance with the provisions of the decedent’s will or the intestate laws of this State. 9. The real property being sold is subject to a short sale instituted by the mortgagee, whereby the seller agreed not to receive any proceeds from the sale and the mortgagee will receive all proceeds paying off an agreed amount of the mortgage. 10. The deed is dated prior to August 1, 2004, and was not previously recorded. 11. The real property is being transferred under a relocation company transaction where a trustee of the relocation company buys the property from the seller and then sells the house to a third party buyer for the same price. 12. The real property is being transferred between spouses or incident to a divorce decree or property settlement agreement under 26 U.S. Code section 1041. 13. The property transferred is a cemetery plot. 14. The seller is not receiving net proceeds from the sale. Net proceeds from the sale means the net amount due to the seller on the settlement sheet. 15. The seller is a retirement trust that received an acknowledgment letter from the Internal Revenue Service that the seller is a retirement trust, and is therefore not required to make the estimated Gross Income Tax payment. 16. The seller (and/or spouse/civil union partner) originally purchased the property while a resident of New Jersey as a member of the U.S. Armed Forces and is now selling the property as a result of being deployed on active duty outside of New Jersey. (Only check this box if applicable and neither boxes 1 nor 2 apply.) 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 may be punished by fine, imprisonment, or both. I furthermore declare that I have examined this declaration I certify that a Power of Attorney to repreand, to the best of my knowledge and belief, it is true, correct and complete. By checking this box sent 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 GIT/REP-3 Seller’s Residency Certification/Exemption Instructions Page 2 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. 54A:8-9. A nonresident seller is required to make an estimated Income Tax payment if none of the Seller’s Assurances apply in the Seller’s Assurances section of this form (GIT/REP-3). If one of the Seller’s Assurance boxes on the GIT/REP-3 applies to the transfer, complete the form following the instructions below. Do not submit a completed GIT/REP-3 to the Division of Taxation. Note: Boxes 2 through 16 apply to both residents and nonresidents. 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 to be 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 which 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, the seller must check box 6 under Seller’s Assurances. Seller’s Assurances. Check the appropriate box(es). If one or more of the Seller’s Assurances applies, the seller is not required to make an estimated Income Tax payment at this time. Any seller claiming the principal residence exemption (box 2) must also be claiming an income/gain exclusion for the property being sold on their federal income tax return (26 U.S. Code section 121). 1031 like-kind exchange. A nonresident who completes the GIT/REP-3 and claims exemption for a 1031 transaction (box 7) must show the value of the like-kind property received. If the transaction includes non-like kind property (i.e., money, stocks, etc.), the seller must also complete the GIT/REP-1, Nonresident Seller’s Tax Declaration, show the greater of the consideration or the fair market value of the nonlike kind property received, and remit an estimated tax payment of 2% of that amount. If the transaction is a deferred like-kind exchange and the seller receives non-like kind property, the qualified intermediary (QI) must remit an estimated tax payment of 2% of the greater of the consideration or the fair market value of any non-like kind property when the 1031 transaction is completed. If the deferred exchange is voided, the QI must complete a GIT/REP-1, Nonresident Seller’s Tax Declaration, and remit an estimated tax payment of 2% of the total consideration with an NJ-1040-ES Voucher. Example: Mr. Smith is a nonresident of New Jersey who exchanges rental property A with a fair market value of $1.2 million for rental property B with a fair market value of $1.0 million and receives $200,000 in cash (non-like kind property). An estimated tax payment is required on the $200,000 non-like kind property for nonresidents. PROPERTY A $ 1,200,000 PROPERTY B $ 1,000,000 CASH $ 200,000 Estimated tax payment for GIT/REP-1 $ 4,000 Box 16 is only for sellers and their spouses/civil union partners if the sellers and/or their spouses/civil union partners are members of the U.S. Armed Forces. Note: Stolen Valor is a crime in New Jersey pursuant to N.J.S.A. 38A:14-5. 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. The seller must give the completed GIT/REP-3 to the settlement agent at closing. The county clerk will attach this form to the deed when recording it. If the form is not completed in its entirety, or if the settlement agent does not submit the original form with the deed, the county clerk will not record the deed.
Extracted from PDF file 2023-new-jersey-form-gitrep-3.pdf, last modified November 2023

More about the New Jersey Form GIT/REP-3 Corporate Income Tax TY 2023

We last updated the Seller's Residency Certification/Exemption in January 2024, so this is the latest version of Form GIT/REP-3, fully updated for tax year 2023. You can download or print current or past-year PDFs of Form GIT/REP-3 directly from TaxFormFinder. You can print other New Jersey tax forms here.


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Other New Jersey Corporate Income Tax Forms:

TaxFormFinder has an additional 95 New Jersey income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form CBT-160-A Underpayment of Estimated NJ Corporation Business Tax For Taxpayers with Gross Receipts less than $50,000,000
Form CBT-200-T Corporation Business Tax Tentative Return and Application
Form DCC-1 Document Control Center Request Form
Form NJ-1041 Fiduciary Return Form
Form A-3128 Claim for Refund of Estimated Gross Income Tax Payment.

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 GIT/REP-3 from the Division of Revenue in January 2024.

Show Sources >

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of New Jersey Form GIT/REP-3

We have a total of eleven past-year versions of Form GIT/REP-3 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2023 Form GIT/REP-3

GIT/REP-3 Seller's Residency Certification/Exemption

2022 Form GIT/REP-3

Seller’s Residency Certification/Exemption, Form GIT/REP-3

2021 Form GIT/REP-3

Seller’s Residency Certification/Exemption, Form GIT/REP-3

2019 Form GIT/REP-3

Seller’s Residency Certification/Exemption, Form GIT/REP-3

2018 Form GIT/REP-3

GIT-REP-3 Seller's Residency Certification/Exemption

2017 Form GIT/REP-3

GIT-REP-3 Seller's Residency Certification/Exemption

2016 Form GIT/REP-3

GIT-REP-3 Seller's Residency Certification/Exemption

GIT-REP-3 Seller's Residency Certification 2015 Form GIT/REP-3

GIT-REP-3 Seller's Residency Certification/Exemption

Seller's Residency Certification/Exemption 2013 Form GIT/REP-3

GIT-REP-3 Seller's Residency Certification.qxp

2012 Form GIT/REP-3

GIT-REP-3 Seller's Residency Certification.qxp

2011 Form GIT/REP-3

GIT-REP-3 Seller's Residency Certification.qxp


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