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Expert Analysis

NJ Tax Stop: Impact Of Retained Rights On Inheritance Tax

By Sarah Townsend ( September 23, 2019, 4:27 PM EDT) -- New Jersey residents have enjoyed the benefit of the repeal of the New Jersey estate tax since Jan. 1, 2018. However, New Jersey maintains its inheritance tax, which is a tax "upon the transfer of property, real or personal, of the value of $500 or over, or of any interest therein or income therefrom, in trust or otherwise, to or for the use of any transferee, distribute or beneficiary" at the death of the transferor.[1]...

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