On January 1, 2018, under current law, the New Jersey Estate Tax will no longer be imposed for individuals who die on or after that date.
See Also
New Jersey Inheritance TaxNew Jersey Inheritance TaxAvoiding Probate in New JerseyIHT Marriage Exemption – Spouse Inheritance Tax ExplainedHistory of New Jersey’s Estate Tax
The New Jersey Estate Tax originated in 1934. It was based on the size of the entire estate and did not break down the distribution of assets beyond exemptions for spouses and charities.
In all cases, if the decedent was not a resident of New Jersey, there was no New Jersey Estate Tax due.
In New Jersey, the Inheritance Tax was a credit against the Estate Tax; an estate paid only the higher of the two.
The New Jersey Estate Tax was phased out in two parts. If the resident decedent died:
- On December 31, 2016, or before, the Estate Tax exemption was capped at $675,000;
- On or after January 1, 2017, but before January 1, 2018 , the Estate Tax exemption was $2 million;
- On or after January 1, 2018, no Estate Tax will be imposed.
