The exit tax is an estimated tax on the profit when you sell your home.
Karin Price Mueller | NJMoneyHelp.com for NJ.com
Q. I am active duty military. I purchased a home in New Jersey on June 30, 2020, 20 days after I arrived in New Jersey on military orders. I have now received military orders for a permanent change of station to Germany with a report date of June 29. We are selling our home and the house is under contract for a June 15th closing. Because of the closing date, I miss qualifying for the standard 24-month primary residence occupancy exit tax exemption.
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