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F
Frank V1
April 13, 2022
Question

NJ Pension can I switch to 3 year rule?

  • April 13, 2022
  • 1 reply
  • 0 views
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    1 reply

    M
    MAK70
    April 13, 2022

    If a taxpayer will not recover all personal contributions within three years (36 months) from the date of the first payment from the plan, or if the employer did not contribute to the plan, then the General Rule Method must be used to determine the taxable amount of pension for New Jersey Income Tax purposes. 

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