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On February 15, 2010 I called the State of New Jersey and asked this specific question. I was directed to reference a court case in 2000, Weintraub vs The Director. The State representative summarized the case by saying that cancellation of debt income, whether it be business or personal (such as credit card debt cancellation received on a 1099-C form) is NOT taxable for New Jersey state purposes. It is however, taxable at the federal level.
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Which state do i file income tax?
You file income tax in the state where you live plus any state from which you receive taxable income. For example, if you live in New Jersey and work in New York, you file in both New York and New Jersey. If you lived in more than one state, you will have to file returns in all of the states where you lived.
Can they freeze your bank account for credit card debt in New Jersey?
Only a court of law by issuance of a Order of Garnishment or Levy can freeze a bank account. Any credit card company or debt collector making such threats are breaking the law, and you're entitled to damanges for their actions. I would google "FDCPA attorney new jersey" and get paid! I have no respect for a collector or agency that breaks the laws and lies to debtors!
How much income do you need to make to have to pay New Jersey state income tax?
Taxable from the first dollar. And even if you weren't, you would still want to file as it is the only way to get the crazy and large property tax refund they send to all (renters and owners) every year.
Where do you send the New Jersey 1099 misc copy 1?
Where do you send the New Jersey 1099 misc copy 1 to what addess
Is gain on sale of rental property taxable to a non resident of New York state?
Yes, both at the Federal and State levels. Your business activity made you taxable on this, and possibly other income, too NYS whether you reside there or not.
What Is the sales tax on vitamins in NJ?
Vitamins and other supplements are not taxable in the state of New Jersey
In New Jersey is a spouse responsible for the credit card debt of her husband if the credit card is solely in his name?
No.
Is a wife responsible for the credit card debt of her husband made before they got married in New Jersey?
No
What is New Jersey's state income tax for married people and single people?
2009 New Jersey Tax TableUse this table if your New Jersey taxable income on Line 38 is less than $100,000. If your taxableincome is $100,000 or more, you must use the Tax Rate Schedules on page 66 of this booklet.Click on the below Related Link
Where can you apply for a debt consolidation loan in Trenton, New Jersey?
The best place to apply for a debt consolidation loan in Trenton is at the financial institution known as Brillac. This is a trusted source for loans.
Why did New Jersey split from New York?
New Jersey was originally part of the Dutch New Netherland colony. When James Duke of York (eventually King James II) was given the New York colony by the king in 1665, he gave part of it to a creditor to pay off a debt and another bit a friend. Those two regions became the province of New Jersey.
Which state do i file income tax?
You file income tax in the state where you live plus any state from which you receive taxable income. For example, if you live in New Jersey and work in New York, you file in both New York and New Jersey. If you lived in more than one state, you will have to file returns in all of the states where you lived.
Is there a statute of limitations on a medical bill in NJ?
Yes, there is a limit in New Jersey. Most of these would be considered a written agreement and would expire in six years.
Are executor fees taxable in New York state?
They are income for the executor. Yes, they are taxable.
Is Im from New Jersey the song for New Jersey?
NOI'm from jersey is not the song for new jersey
I filed a 1099c for debt and the account was sold to a new creditor do I have to pay?
You mean you received a 1099C right...you had (cancellation of debt)income because you had a bankruptcy or failed to pay what the persdon issuing it to you had loaned you. In any case, no matter what the circumstances, the facts haven't changed....just the name of who you owe that debt to. That doesn't change anything about your accounting, taxability or reporting obligation.
Is a jersey named after New Jersey?
No, New Jersey is named after the European Jersey. That's why it's called 'new' jersey.
