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Thread: talk about being 'screwed' on the way out !!!

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    Banned Melonie's Avatar
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    Default talk about being 'screwed' on the way out !!!

    Coming to a State near you. From a yahoo chat board

    (snip)"Now, up until earlier this year, many New Jerseyans selling their homes and moving permanently out of state were utilizing the GIT/REP3 (Resident) form, based on the assumption they would be filing New Jersey income taxes for that tax year and would pay the taxes (if any) on the sale of the property at that time. As of July 2007, they can no longer do so. The state Division of Taxation has "amended" their position that, in order to utilize the Resident form, the seller MUST be moving to a New Jersey address as of the date of deed transfer, or they must use the NonResident (GIT/REP1) form, thereby requiring them to pay the minimum 2% of the deed consideration directly to the state. I can only surmise that the sheer volume of residents fleeing to greener pastures - plus seeing an opportunity to further bloat the coffers - is what prompted NJ in its infinite wisdom to "clarify" their filing instructions

    So, while it's not an "exit tax" per se, that is essentially what it has become - one last way for the Garden State to stick it to you on your way out the door."(snip)

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    Default Re: talk about being 'screwed' on the way out !!!

    That sounds like the fees that clubs charge dancers to cash in their funny money.


    Promote yourself and earn more money! This is a business that is owned by strippers for strippers. Let's make that money!


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    God/dess Lexi's Avatar
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    Default Re: talk about being 'screwed' on the way out !!!

    What else is new? Jersey is the worst. I cant wait to get out of here. But not until I pay my exit tax!!!

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    God/dess Casual Observer's Avatar
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    Default Re: talk about being 'screwed' on the way out !!!

    I still don't understand how New Jersey is the most densely populated state. With idiocy like this, who would stay there?
    Idealism is fine, but as it approaches reality, the costs become prohibitive.

    William F. Buckley, Jr.

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    God/dess Lexi's Avatar
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    Default Re: talk about being 'screwed' on the way out !!!

    ^^^ Idiots like myself. LOL

    I so want out. I need to sell my house, but no one wants to buy a townhouse for what I paidin the middle of east bumblefuck.

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    Banned Melonie's Avatar
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    Default Re: talk about being 'screwed' on the way out !!!

    I still don't understand how New Jersey is the most densely populated state. With idiocy like this, who would stay there?
    well, lets see ...

    low skill immigrants who will be eligible for extremely generous social welfare program benefits ... i.e. free medical care, welfare checks, subsidized rent, subsidized utility bills etc. The low skill immigrant segment of New Jersey's population is growing fast - much faster than the exodus of middle class taxpayers

    uber-rich individuals whose incomes aren't based on 'ordinary income' in any significant way ... i.e. they would pay the same capital gains tax rates in any other state, or some of their money is parked in offshore tax shelters, or some of their money is parked in fed/state/local tax exempt municipal bonds, or some of their money is parked in gov't subsidized industries (where the tax credits they receive can be used to offset other tax obligations).

    Civil service / union employees, whose paychecks are 'guaranteed' to increase by contract to keep pace with rising cost of living.

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    Banned Melonie's Avatar
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    Default Re: talk about being 'screwed' on the way out !!!

    ^^^ yes this is an additional tax, as compared to the fact that zero New Jersey state real estate tax would have been due prior to last year on a New Jersey property sale if the seller had left New Jersey and become a full time resident of, say, South Carolina, after the closing ! In a nutshell, this tax was targeted at out-of-state real estate speculators, with NJ residents essentially being exempt from the tax as it would apply to 'upgrading' one NJ property for another NJ property. The change of course is that NJ is now treating NJ residents who are preparing to leave the state as if they had never lived in the state in the first place.

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    Banned Eric Stoner's Avatar
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    Default Re: talk about being 'screwed' on the way out !!!

    There is an excellent book out about N.J. politics with all of its corruption and incompetence written by two Trenton reporters : "THE SOPRANO STATE". It's easy and quick reading and I highly recommend it.

    Just in my lifetime, N.J. has gone from a fairly efficient LOW TAX state to one of the HIGHEST in the U.S. Time was, many a New Yorker ( including many businesses ) moved there to escape New York's confiscatory taxes. No more. A few are even moving back ! Mostly they're TRYING to go to Pa. and Delaware. Many can't move and are stuck.

    While Florio and McGreevy were the worst; the Republicans, especially Whitman, were not much better

    Spending has gotten totally out of control and unless and until it is reined in; things will just keep getting worse and worse.

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    Banned Melonie's Avatar
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    Default Re: talk about being 'screwed' on the way out !!!

    ^^^ why do you think that I moved out of North Jersey and back to New York ? Up until 10 years ago (or so), NJ was pro-business, relatively low in taxes, and more or less middle class. IMHO it has been the past immigration of 'uber-rich' New Yorkers ( fleeing then much higher NY state tax rates) and of unskilled immigrants (legal and illegal) that changed the character ... and the gov't ... of New Jersey

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    Banned Eric Stoner's Avatar
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    Default Re: talk about being 'screwed' on the way out !!!

    Quote Originally Posted by Melonie View Post
    ^^^ why do you think that I moved out of North Jersey and back to New York ? Up until 10 years ago (or so), NJ was pro-business, relatively low in taxes, and more or less middle class. IMHO it has been the past immigration of 'uber-rich' New Yorkers ( fleeing then much higher NY state tax rates) and of unskilled immigrants (legal and illegal) that changed the character ... and the gov't ... of New Jersey
    Hmmm. Just like they did to NYC.

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    Banned Melonie's Avatar
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    Default Re: talk about being 'screwed' on the way out !!!

    ^^^ absolutely ... although the conversion of NYC from primarily middle class to the rich and the poor (with the middle class leaving in droves) arguably started in the 1950s (Levittown) and really accelerated in the 1970's. The late 70's was also the point where NYC gov't flipped to big spending liberalism, but that's a whole 'nuther story.

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    Default Re: talk about being 'screwed' on the way out !!!

    Quote Originally Posted by Melonie View Post
    ^^^ absolutely ... although the conversion of NYC from primarily middle class to the rich and the poor (with the middle class leaving in droves) arguably started in the 1950s (Levittown) and really accelerated in the 1970's. The late 70's was also the point where NYC gov't flipped to big spending liberalism, but that's a whole 'nuther story.
    Melonie, Melonie, Melonie. Robert Moses started driving the middle class to the suburbs starting in the late 1930's. It picked up speed post WWII.

    NYC had Big Spending liberalism starting with LaGuardia in the 1930's. It just kept getting worse and worse from building a Public Hospital system; CUNY and overpaying on pensions and social welfare benefits starting with Wagner in the 1950's through Lindsay in the 60's and early 70's. All the while taxes kept going up and the manufacturing base kept eroding.

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