How will our N.Y.C. pensions be taxed if we move to N.J.? Updated Feb 22, 2021; Q. My wife and I are considering moving from New York City to New Jersey. We earn $110,000 from our New York City pensions that are excluded from state and city taxes. How much extra state tax from New Jersey would we expect to pay annually if we move to New Jersey? — Thinking about it A. There are a few items to consider here. As a New Jersey resident you are taxed on your income regardless of which state it’s from. Your New York pension is not excluded and would be taxable on your resident New Jersey return once you move here, said Cynthia Fusillo, a certified public accountant with Peapack Private Wealth Management in New Providence.