New Jersey Estate Tax to Be Repealed: Governor Christie Signs Bill Eliminating State Estate Tax as of January 1, 2018; Inheritance Tax Is Retained

Sullivan & Cromwell LLP - October 14, 2016
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Today, New Jersey Governor Christie signed into law a bill that will eliminate the New Jersey estate tax for the estates of New Jersey resident decedents dying on or after January 1, 2018.  In addition, for the estates of New Jersey residents dying on or after January 1, 2017 and before January 1, 2018, the exemption from New Jersey’s estate tax will be increased from its current $675,000 amount to $2 million.