NJ Repeals Estate Tax

As part of the recent transportation funding legislation, the State of New Jersey will eventually phase out the estate tax. New Jersey residents currently have an exemption of only $675,000. Under the legislation, the New Jersey Estate Tax exemption will be increased to $2.0 million per person on January 1, 2017; and effective January 1, 2018, the New Jersey Estate Tax will be eliminated entirely.

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