New Jersey Falls to Second Place
Here’s a bit of good news if you die owning any real or personal property in New Jersey. The estate tax here was eliminated as of January 1, 2018.
But some of your beneficiaries might have to pay an additional 16 percent of the value of any inheritance they receive from you. The state does take it easy on immediate kin: Spouses, parents, grandparents, children, grandchildren, and stepchildren are all exempt from this tax. But all others—including your siblings, the spouses of your children, or your civil union partner—will pay an inheritance tax at a rate that escalates with the value of the property they’ve inherited from you.
