Talk of The Villages Florida - View Single Post - One person moves out of ILL ever 10 seconds
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Old 03-17-2013, 09:12 PM
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CFrance CFrance is offline
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Quote:
Originally Posted by Virtual Geezer View Post
How about a 3% departure tax if you sell a home in New Jersey and move out of state. Now that is one I never heard of until Friday evening.

VG
From what I understand, it is a withholding to ensure NJ doesn't have to track you down if you owe taxes:

In simple terms, no you are not paying a tax to leave NJ. NJ withholds money, similar to your state income tax withholding, if you move out of state. They are trying to make sure those moving out of state file their taxes on their NJ income at the end of the year. You will receive a refund if you don't own any additional tax. In short, no there is no "Exit" tax. It is withholding only.