As of July 10, 2025, the Mansion Tax and Controlling Interest Transfer Tax (“CITT”) now requires sellers of certain classes of real property (and controlling interest involving certain classes of real property) transferred...more
The latest budget passed by the New Jersey legislature and signed by term-limited Governor Phil Murphy quietly enacted changes to New Jersey’s Mansion Tax, which affects not only residential properties but commercial...more
New Jersey Governor Phil Murphy and State Democratic leaders announced yesterday a revised fiscal year 2021 budget that raises the State’s gross income tax rate on income for families now earning between $1 million and $5...more