Where does the estimated gross income tax payment get sent at the time of closing?
The estimated gross income tax payment must be included with the GIT/REP-1 form and the deed for recording with the appropriate county clerk. The county clerk forwards the GIT/REP-1 form along with payment to the Division of Taxation. The 1040-ES (Estimated Gross Income Tax Payment voucher) on the GIT/REP-1 form and the seller’s/grantor’s payment must indicate the seller’s/grantor’s social security number in order for the payment to be credited to the proper taxpayer’s account.
The estimated gross income tax payment must be included with the GIT/REP-1 form and the deed for recording with the appropriate county clerk. The county clerk forwards the GIT/REP-1 form along with payment to the Division of Taxation. The 1040-ES (Estimated Gross Income Tax Payment voucher) on the GIT/REP-1 form and the sellers/grantors payment must indicate the sellers/grantors social security number in order for the payment to be credited to the proper taxpayers account.
