taxes






 

Question by  Jessicah (18)

What is the inheritance law about taxes in New Jersey?

Does that vary from state to state?

 
+5

Answer by  LeheckaG (1826)

In addition to Federal (IRS.Gov) Estate & Income tax, New Jersey (State.Nj.US) has BOTH Estate & (Transfer)Inheritance taxes. Yes, Each U.S.-state's Estate/Inheritance-taxes are different. After the decedent's-estate pays NJ-Estate-taxes, Each-beneficiary has to file (IT-R or IT-NR, within 8 months of death or file for extension) & pay NJ-(Transfer)Inheritance-taxes (0% to 16%, based on relationship to decedent, & amount of inheritance).

 
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