Please be advised that State Assembly Bill No. 4701 was recently
signed into law which imposes a 1% fee, or 1% tax, on certain purchasers
of certain commercial property in excess of $1 million.
This New Fee applies to all Deeds meeting the criteria mentioned
above which are submitted for recording on August 1, 2006.
We urge you to please go to the New Jersey Division of Taxation
website at
www.state.nj.us/treasury/taxation for updated information
related to the fee. To download the revised Affidavit of Consideration
forms (RTF-1) and (RTF-1 EE) go to the New Jersey Division of Taxation
website at
www.state.nj.us/treasury/taxation/prntlpt.htm.
