New Jersey Exit Tax Calculator

The “NJ exit tax” isn’t actually a separate, additional tax — that’s a common misconception. It’s an estimated tax withholding collected at closing (via NJ form GIT/REP-1) from sellers who are non-residents of New Jersey at the time of the sale. Whatever is withheld is credited against your actual NJ tax liability when you file your non-resident return — you may get some or all of it back as a refund.

Enter Your Numbers

Sale Price:

Estimated Gain on Sale (sale price minus purchase price, improvements, and selling costs):

Will you be a New Jersey resident at the time of closing?
Yes, I’m a NJ resident
No, I’m a non-resident

Your Estimate

2% of sale price	$0
10.75% of estimated gain	$0
Estimated Withholding (the greater of the two)	$0

How This Works

Non-resident sellers must withhold, at closing, the greater of:

2% of the total sale price (this floor applies even if you have little or no actual gain), or
10.75% of your estimated gain (NJ’s top Gross Income Tax rate)

This amount is submitted to the state via form GIT/REP-1 at closing. It is a prepayment, not a final bill — you reconcile it against your real tax liability when you file a NJ non-resident income tax return the following year, and any overpayment is refunded.

Disclaimer: This calculator provides an estimate for general informational purposes only and is not legal, tax, or financial advice. Your actual gain calculation depends on your cost basis, capital improvements, and selling expenses — consult a licensed NJ accountant or attorney. Rates reflect New Jersey law as of August 2026 and are subject to change. NestApple is a licensed real estate broker.