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Are You Leaving NJ in the Next 5 Years?

  

253 members have voted

  1. 1. Do you plan to leave NJ in the next 5 years?

    • Yes
      169
    • No
      50
    • Already Gone
      27
    • I'm a cop Yes
      3
    • I'm a cop No
      4


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Unions are bankrupting the state, but no one will ever admit to it. I can't wait to leave this cesspool.

I can't blame the unions any more than I can blame my kids for asking for an increase in their allowance, or my employees for asking for a raise.  The blame lies with the politicians for always saying yes and treating the state budget like their personal piggybank to buy votes with.  And, I blame us for letting them get away with it for so long that we've passed the tipping point of ever getting back to a sustainable level.

 

Where the unions are at fault is in ignoring the reality of the situation, and accepting that it can't go on for ever.  I firmly believe people want the truth, even if they don't like it.  That's what adults are supposed to do - deal with reality.  Any union that supported a political party or person, all the while knowing the pensions weren't being funded, is to blame for that mess.  Now I believe it's too late.  The hole is too deep to ever fill it.  The rhetoric is absurd, and the sheeple are buying it.  I started planning my exit when I heard Corzine say he would fight for a fair contract.  Who was he fighting?  The taxpayers, that's who, and we lost.  I actually feel bad for the rank and file union members who will be hurt, but frankly they should have seen it coming.  

 

Have you noticed all the talk about increasing taxes?  Ever hear anyone speak about using those increases to actually reduce the debt?  Didn't think so.   It's always about some other "need" or "priority" or "for the children".  Eventually the NJ Supreme Court will force the legislature to deal with the issue, and I'm not optimistic about how that will turn out. 

 

So, I count the days until I can get out of here and I structure my finances to minimize the hit when I leave.  I won't be the last one to turn off the lights and close the door behind me. 

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The exit tax is just the normal tax on capital gains if you sell a home for more than you paid. But...want NJ does differently is makes you pay this at the time of sale if you're moving out of state instead of just paying it when you file your income taxes in April.

 

Many people would buy a home in Florida and declare that the primary residence before selling the NJ home. Then, since they were a resident of FL (or any other state), they didn't have to file income taxes in NJ and NJ didn't get "their fair share".

 

Well, they found a way to get "their fair share".

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The exit tax is just the normal tax on capital gains if you sell a home for more than you paid. But...want NJ does differently is makes you pay this at the time of sale if you're moving out of state instead of just paying it when you file your income taxes in April.

 

Many people would buy a home in Florida and declare that the primary residence before selling the NJ home. Then, since they were a resident of FL (or any other state), they didn't have to file income taxes in NJ and NJ didn't get "their fair share".

 

Well, they found a way to get "their fair share".

 

Still I would list a NJ address as my residence...

 

I could "rent" from a relative in NJ ;)

 

Have someone else buy the house in PA or setup a trust as the owner of the house, and move from the "rental" in NJ to PA avoiding the exit tax...

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The exit tax is just the normal tax on capital gains if you sell a home for more than you paid. But...want NJ does differently is makes you pay this at the time of sale if you're moving out of state instead of just paying it when you file your income taxes in April.

 

Many people would buy a home in Florida and declare that the primary residence before selling the NJ home. Then, since they were a resident of FL (or any other state), they didn't have to file income taxes in NJ and NJ didn't get "their fair share".

 

Well, they found a way to get "their fair share".

 

I would think the State would disagree either way, considering that the gain realized on the sale of NJ property would be considered income earned in NJ and subject to cap gains tax, and thus requiring a "non resident" 1040 for that year. When I was going to college, I switched my primary domicile to Illinois. But I'd come home to NJ for the summer, and work summer jobs there. I had to file a NJ "Non resident" 1040.

 

I think the "withhold up front" is just a convenience mechanism for the State (i.e. defend against people who *do* move away and *think* they don't have to file in NJ anymore)...

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I would think the State would disagree either way, considering that the gain realized on the sale of NJ property would be considered income earned in NJ and subject to cap gains tax, and thus requiring a "non resident" 1040 for that year. When I was going to college, I switched my primary domicile to Illinois. But I'd come home to NJ for the summer, and work summer jobs there. I had to file a NJ "Non resident" 1040.

 

I think the "withhold up front" is just a convenience mechanism for the State (i.e. defend against people who *do* move away and *think* they don't have to file in NJ anymore)...

 

Screw this state, I paid my share of taxes and when I leave this state they will not extort a single dime from me.

 

If the state tried to come after us for money, I would whip out the Jamaican passports (dual citizenship) and be on a plane to our other house in hours and have my hunting rifles/hunting shotguns exported by a FFL with ITAR reg.

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I got one for ya. I bought a house in AZ in 2013, and I sold my house in NJ in 2014, which I built in 1990. What tax returns did I file for 2013, and will I file for 2014? And how is the capital gains tax figured?

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I got one for ya. I bought a house in AZ in 2013, and I sold my house in NJ in 2014, which I built in 1990. What tax returns did I file for 2013, and will I file for 2014? And how is the capital gains tax figured?

 

Not giving legal advice, Paul.

 

You are one lucky guy to make it out of NJ :)

 

But I miss the shop in NJ, it was nice (I was the guy who transfered those 2 mauser rifles from you in mid 2013?)

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I got one for ya. I bought a house in AZ in 2013, and I sold my house in NJ in 2014, which I built in 1990. What tax returns did I file for 2013, and will I file for 2014? And how is the capital gains tax figured?

Paul.... You didn't file your taxes for 2013 yet?!?!?!

 

I don't believe you have to pay ANY "NJ Exit" Tax, I'm pretty confident of it, however obviously it's better to consult with a tax professional... because I'm just a code monkey with finance/investment background.... :D

 

Sale of a Principal Residence. If you sell your principal residence, you may qualify to exclude up to$250,000 ($500,000 for certain married/civil union couples filing a joint return) of any gain from your income. Capital gain is computed in the same manner as for Federal income tax purposes. Any amount that is taxable for Federal purposes is taxable for New Jersey purposes. You can claim the exclusion if, during the 5-year period ending on the date of the sale, you have:
1. Owned the home for at least 2 years (the ownership test); and
2. Lived in the home as your principal residence for at least 2 years (the use test).
 
 

Sources: 

http://www.state.nj.us/treasury/taxation/pdf/current/1040i.pdf  (See page. 44, "Sale of a Principal Residence")

http://www.nj.com/business/index.ssf/2014/07/your_money_njs_exit_tax_and_home_sales.html

 

As for myself, we're going house hunting in Charlotte this coming week and will renting it out for a year until we can tie up loose ends here in NJ.  I also moved to NJ from NYC 3 years ago.

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Thanks for the info.

 

I got one for ya. I bought a house in AZ in 2013, and I sold my house in NJ in 2014, which I built in 1990. What tax returns did I file for 2013, and will I file for 2014? And how is the capital gains tax figured?

 

Yes. I filed 2013. Federal, AZ & NJ Resident. I think for 2014 it will be Federal, AZ Resident & NJ Non-Resident. I let the HR Block Software walk me through it. I had my taxes done once by someone else. Never again.

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Honestly, I would love to move out of NJ into a free and financially reasonable state.  But working in NYC doesn't leave many choices for a freer state nearby.  Perhaps after retirement many years from now.... one can dream right?  

 

I work in NYC as well, software test engineer.

 

I'm looking at Charlotte, the second largest financial city in the US.  Also have 8th largest airport hub if you travel and the weather is descent.  There is also a flat tax rate now for the state at ~5.5%, I think.

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I work in NYC as well, software test engineer.

 

I'm looking at Charlotte, the second largest financial city in the US.  Also have 8th largest airport hub if you travel and the weather is descent.  There is also a flat tax rate now for the state at ~5.5%, I think.

 

Wait until you see traffic on I-485!

 

Charlotte is nice....but it's turning into little NY/NJ....and in turn getting worse. 

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Wait until you see traffic on I-485!

 

Charlotte is nice....but it's turning into little NY/NJ....and in turn getting worse.

Exactly why I am not going where NJ residents always go. PA, DE, FL, AZ, NV, NC, and SC. I live on the line between Cumberland and Salem County. This is the rural, farming part of the state. The lifestyle and attitudes here are more like rural Nebraska than the rest of NJ. But, we have a handful of northern urbanites who have moved into our area over the last 20 years because they wanted to be out in the country. But they don't really want the country experience, they want all the conveniences and regulations they had in the city. They call the state police to complain if a farmer's irrigation sprays a roadway as the irrigation guns rotate. They complain to the DEP if a farmer spreads manure and they don't like the smell. They call the county to complain if a property owner doesn't mow the side of the road along a field of corn. They show up at town counsel meetings demanding street lights, curbside garbage pickup, or a police department.

 

I am not moving to a state where the rest of NJ is showing up and bringing NJ ideas with them.

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Exactly why I am not going where NJ residents always go. FL, AZ, NV, NC, and SC. I live on the line between Cumberland and Salem County. This is the rural, farming part of the state. The lifestyle and attitudes here are more like rural Nebraska than the rest of NJ. But, we have a handful of northern urbanites who have moved into our area over the last 20 years because they wanted to be out in the country. But they don't really want the country experience, they want all the conveniences and regulations they had in the city. They call the state police to complain if a farmer's irrigation sprays a roadway as the irrigation guns rotate. They complain to the DEP if a farmer spreads manure and they don't like the smell. They call the county to complain if a property owner doesn't mow the side of the road along a field of corn. They show up at town counsel meetings demanding street lights, curbside garbage pickup, or a police department.

 

I am not moving to a state where the rest of NJ is showing up and bringing NJ ideas with them.

 

People expect city amenities in a rural country setting? what part of living in the country did they miss?

 

PA is the way for us, I lived in a rural area for a good 9 years and loved it I would never move to a city/town again...it's gonna be rural and remote.

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Wait until you see traffic on I-485!

 

Charlotte is nice....but it's turning into little NY/NJ....and in turn getting worse. 

 

Getting worst is all relative, as with pretty much everything in life.  Currently my property tax is $9,600 WITH abatement and HOA of $718 a month for 1,220 SQ/FT condo.  I'm looking around Huntersville/Cornelius NC, where taxes is less than $3,000 with HOA of $55 for 2,800+ SQ/FT + 2 car garage.  With just those figures and with cost of living adjust on salary, if it comes to that, it definitely better in my books by at least three fold.  And NY/NJ is not all that bad, except for the Antis and among other things.  I try to look at the BIG pictures.  But thanks for the tip on traffic!  :)

 

Exactly why I am not going where NJ residents always go. FL, AZ, NV, NC, and SC. I live on the line between Cumberland and Salem County. This is the rural, farming part of the state. The lifestyle and attitudes here are more like rural Nebraska than the rest of NJ. But, we have a handful of northern urbanites who have moved into our area over the last 20 years because they wanted to be out in the country. But they don't really want the country experience, they want all the conveniences and regulations they had in the city. They call the state police to complain if a farmer's irrigation sprays a roadway as the irrigation guns rotate. They complain to the DEP if a farmer spreads manure and they don't like the smell. They call the county to complain if a property owner doesn't mow the side of the road along a field of corn. They show up at town counsel meetings demanding street lights, curbside garbage pickup, or a police department.

 

I am not moving to a state where the rest of NJ is showing up and bringing NJ ideas with them.

 

Really?  I've always been curious why certain residents of New Jersey seem to think they are better than the rest of us, and would NOT relocate to a place where are transplate from more urban cities.  As a "Better Residents of NJ" also tend to group all others as Antis or Urbanites who don't know squat about living the 'slower' life.  There are only 50 States, and I really doubt you will find a state that DOES NOT ALREADY HAVE A FORMER NJ Resident.  So, I guess you should just stay put in NJ.

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Really?  I've always been curious why certain residents of New Jersey seem to think they are better than the rest of us, and would NOT relocate to a place where are transplate from more urban cities.  As a "Better Residents of NJ" also tend to group all others as Antis or Urbanites who don't know squat about living the 'slower' life.  There are only 50 States, and I really doubt you will find a state that DOES NOT ALREADY HAVE A FORMER NJ Resident.  So, I guess you should just stay put in NJ.

Who said better? I'll go with different.

 

And I acknowledge that we live in a society where anyone can try to get things changed and they aren't wrong for doing it. I'm just not happy about the changes happening in my area. So, I'll be going somewhere and looking for the lifestyle I had 20 years ago that is slowly going away here.

 

And my experience here has convinced me that I don't want to be a problem to my new neighbors so I'm not going to try to change them to fit the way it was in NJ. I'll assimilate to the best of my ability.

 

And every state does have a few NJ residents but some states have higher NJ expatriate populations than others. http://www.forbes.com/special-report/2011/migration.html

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What are you thinking for after PA?

I've narrowed it down to further south and west......

 

I honestly don't know right now.  Virginia looked good for a while, but seems to be following PA.....

 

Kentucky's interesting, so are parts of Georgia and the Carolinas, and Texas.....

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Who said better? I'll go with different.

 

And I acknowledge that we live in a society where anyone can try to get things changed and they aren't wrong for doing it. I'm just not happy about the changes happening in my area. So, I'll be going somewhere and looking for the lifestyle I had 20 years ago that is slowly going away here.

 

And my experience here has convinced me that I don't want to be a problem to my new neighbors so I'm not going to try to change them to fit the way it was in NJ. I'll assimilate to the best of my ability.

 

And every state does have a few NJ residents but some states have higher NJ expatriate populations than others. http://www.forbes.com/special-report/2011/migration.html

 

Well, now those are statements I can agree with.  Don't hate on all of us just because we have fucktards running the show.

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Really?  I've always been curious why certain residents of New Jersey seem to think they are better than the rest of us, and would NOT relocate to a place where are transplate from more urban cities.  As a "Better Residents of NJ" also tend to group all others as Antis or Urbanites who don't know squat about living the 'slower' life.  There are only 50 States, and I really doubt you will find a state that DOES NOT ALREADY HAVE A FORMER NJ Resident.  So, I guess you should just stay put in NJ.

It's because Urbanites move in and change ordinances requiring farms to mow their lawns weekly, make watering illegal (even though there is no water shortage), ban discharge of firearms, shut down ranges, shut down racetracks, make it illegal to have tractors or lawn equipment in your yard, force people to spend money to upgrade the frontage of their properties, ban certain paint colors for houses or barns, make possession of bows and BB guns illegal, shut down high school rifle programs and institute "zero tolerance" indoctrination programs that ban the spoken word of a shooting sport or a picture of a gun, ban the use of propane, make it illegal for farmers to use organic fertilizer or operate equipment outside of daylight hours, pass ordinances forbidding farm and produce signs but allowing signs only for tanning salons and strip malls, pass ordinances banning gun shops within municipal boundaries, ridiculous property codes and construction fees...

 

And you bring your gang banger kids or the wannabees you have convinced yourself are perfectly normal.

 

...should I keep going?

 

Yes. We don't want you. Move here and you'll figure that out. You're roaches. When you move in, quality of life goes into the toilet. After a couple decades, once you've completely fucked everything up to the level of the place you originally left, you and your now grown demon spawn will move on to lay eggs of disaster in a new area to turn it into the same thing you just left behind.

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 It's because Urbanites move in and change ordinances requiring farms to mow their lawns weekly, make watering illegal (even though there is no water shortage), ban discharge of firearms, shut down ranges, shut down racetracks, make it illegal to have tractors or lawn equipment in your yard, force people to spend money to upgrade the frontage of their properties, ban certain paint colors for houses or barns, make possession of bows and BB guns illegal, shut down high school rifle programs and institute "zero tolerance" indoctrination programs that ban the spoken word of a shooting sport or a picture of a gun, ban the use of propane, make it illegal for farmers to use organic fertilizer or operate equipment outside of daylight hours, pass ordinances forbidding farm and produce signs but allowing signs only for tanning salons and strip malls, pass ordinances banning gun shops within municipal boundaries, ridiculous property codes and construction fees...

 

And you bring your gang banger kids or the wannabees you have convinced yourself are perfectly normal.

 

...should I keep going?

 

Yes. We don't want you. Move here and you'll figure that out. You're roaches. When you move in, quality of life goes into the toilet. After a couple decades, once you've completely fucked everything up to the level of the place you originally left, you and your now grown demon spawn will move on to lay eggs of disaster in a new area to turn it into the same thing you just left behind.

 

I don't even know how to respond to that..... LOL .... You the man!!! ..... I'm not a typical urbanite but just to fit your sterotype, I would move there just to fuck your shit up.... LOL.... Where do you live again?  And why even start the post?

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Well I officially don't live in NJ as of yesterday. We spent our first night here in PA and so far so good. I'll get my dl and all the other car stuff done and I should have my ltcf (ccw permit) shortly

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