Monday, August 8, 2016

NJ Inheritance Tax rates




NJ Inheritance Tax RatesThe Transfer Inheritance Tax rates depend on the amount received and the relationship between the decedent and the beneficiary. No tax is imposed on class A beneficiaries (father, mother, grandparents, descendants, spouses, civil union partners, or domestic partners).
Class C beneficiaries (brother or sister of decedent; husband, wife, or widow(er) of a child of decedent; civil union partner or surviving civil union partner of a child of decedent) are taxed at 11%–16%, with the first $25,000 exempt.
Class D beneficiaries (not otherwise classified) are taxed at 15%–16%, with no tax on transfers having an aggregate value of less than $500.
       More info at More info at http://www.njlaws.com/inheritance_tax.html
     Charitable institutions are exempt from tax

No comments:

Post a Comment

Note: Only a member of this blog may post a comment.