If you owe money to New Jersey, you can request an installment plan to set up monthly payments for the liability. Generally, NJ requires the installment plan to be over 36 months. This is far shorter than what the IRS allows for an installment plan, but you will usually owe far less to NJ than the IRS.
To be eligible for an NJ installment plan, you must have filed all required tax returns. If you are missing any tax returns, NJ will not even entertain the request. Even if you are approved for the installment plan, NJ may still file a Certificate of Debt, which is equivalent to a lien.
Once you are on an installment plan, you must remain current on all future tax obligations. If you accrue a new liability, the plan will default. While you are on the plan, NJ will take any refunds due to you by either NJ or the IRS.
For help with NJ Installment Agreements, contact me today.