New York Estate Tax

New York State passed a new estate tax law, including a new exemption schedule, which became effective on April 1, 2014.

Currently the New York State estate tax exemption amount is

$3,125,000 for individuals dying between April 1, 2015 and March 31, 2016;

$4,187,500 for individuals dying between April 1, 2016 and March 31, 2017;

$5,250,000 for individuals dying between April 1, 2017 and December 31, 2018;

$5,900,000 for individuals dying during the calendar year 2019.

New York residents and non-residents with qualifying New York property (primarily real estate) are subject to New York estate tax.

Estate tax payments are due 9 months after date of death.  Extensions are available for filing the New York estate tax return.

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