Certain home sales will be subject to this estimated tax at closing.
Karin Price Mueller | NJMoneyHelp.com for NJ.com
Q. Me and my siblings inherited my mom’s beach house in West Cape May. We sold the house for $475,000. We live in Maryland. My mom had the house for at least 30 years. She stayed there about six months out of the year and her residence was Maryland. Do we have to pay the exit tax in New Jersey?Note to readers: if you purchase something through one of our affiliate links we may earn a commission.
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