Triangle NC · Member since 2016 · 136 posts · 11 votes
Hi there,
I reside in NC but have my rental property in NJ. My rental property is held in a NJ LLC and I am the only member of the LLC. I will be selling the property and I was wondering if I will have pay a "bulk sales fee" or an "exit tax" on the sale. Which one would I have to pay? Any input would be greatly appreciated.
Developer · New Brunswick, NJ · Member since 2015 · 1k+ posts · 2k+ votes
9y
You have to submit all investment property in NJ to "Bulk Sale". It just verifies you have been paying taxes and protects the buyer. Whether you agree to it or not, the buyer attorney will submit that form anyway.