What are some of the rules on inheritance tax in the state of New York?

Answer by  Vladimir (459)

New York State has not had an inheritence tax in effect since the law requiring such remittance was reppealed in 2005. The only inheritence tax liability for New York estates would the federal tax; which is a progressive tax, that requires remittance of 18 to 45% of an estate's value.

Answer by  Liz59 (10966)

Well according to many sources and from what I personally know, there is no such thing as inheritance tax in New York City and or the state. Since 2005, the inheritance tax was abolished and also many other states such as Wisconsin and Wyoming do not have to pay this tax either.

Answer by  BrianSJ (524)

The state of New York does not levy an inheritance tax on the estates of people who died after January 1, 2004. (They need to file estate tax returns, though. )

Answer by  bonnie56 (359)

There is no inheritance tax in the state of New York. Depending on the date of death, you may still need to file a New York Estate Tax Return.