The New Jersey Division of Taxation has released an updated version of its Form NJ-W-4P, Certificate of Voluntary Withholding of New Jersey Gross Income Tax from Pension and Annuity Payments. Pensioners and annuitants may use this form to instruct the payer withholding New Jersey Income Tax rather than making estimated tax payments.
The form itself is largely the same as the prior version, except it now includes an option to request that the payer cease the withholding of New Jersey Income Tax from payments. The new form also contains instructions in greater detail, publication references, and a worksheet to assist payees in determining the amount of tax to be withheld.
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