New Jersey Estate Tax and Transfer Inheritance Tax

Estates of New Jersey residents and non-residents who own qualifying property located in New Jersey (mostly real estate) are potentially subject to two kinds of taxes at death.

Estates of New Jersey decedents valued in excess of $675,000.00 may be subject to New Jersey Estate Tax.  If estate tax is due, payment must be made within 9 months after the death of the decedent.

Estates of New Jersey decedents, whose beneficiaries are not direct lineal ancestors (parents, grandparents, etc.) or direct lineal descendants (children, grandchildren, etc,, or qualified charitable organizations may be subject to Transfer Inheritance Tax regardless of the size of the estate.  If Transfer Inheritance Tax is due, payment must be made within 8 months after the death of the decedent.

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