How to get back money from the N.J. 'exit tax' | Biz Brain

How you can get back what you pay for the "exit tax."(MichaelKirsch/ Q. In June 2016 I sold my home in New Jersey while residing in Delaware. The home was purchased in 2004 and we moved in 2007. The "exit tax" withheld $10,000. Can this be reclaimed when I file my taxes? Can I file this as a "loss?" -- Assistance needed A. The "exit tax" isn't a penalty tax, and having to pay doesn't mean a loss. When you sold your New Jersey home, you had to make an estimated tax payment at closing. That's the so-called "exit tax." New Jersey imposes this tax to make sure you'll pay what's owed on your final Jersey tax return even if you're not living in the state. The estimated tax due is e

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