Nj inheritance tax1/30/2024 ![]() ![]() ![]() – Class D: All other individuals who are beneficiaries fall into this category. ![]() Assets left to Class C beneficiaries are taxed according to a sliding scale (based on the amount inherited). – Class C: The decedent’s brother, sister, daughter-in-law, son-in-law, daughter’s civil union partner or domestic partner, and son’s civil union partner or domestic partner fall into this category. Please Note, we didn’t forget Class B it was eliminated in 1963. Assets left to Class A beneficiaries are exempt from NJ inheritance taxes. – Class A: The decedent’s surviving spouse, civil union partner, domestic partner, parents, grandparents, children, stepchildren or grandchildren fall into this category. Below are the various inheritance tax categories: New Jersey inheritance taxes relate to beneficiaries who inherit $500 or more from a deceased person’s estate.Ģ. Simply put, the marital deduction exempts the spouse, civil union partner, or domestic partner from paying any NJ estate taxes on his or her inheritance.ġ. However, a surviving spouse, civil union partner, or domestic partner who is a United States citizen receives a marital deduction equal to the assets he or she inherits. A New Jersey estate tax is imposed on a deceased person’s estate in excess of $675,000. The NJ estate tax and the NJ inheritance tax are distinctly different.ġ. While many assume these terms are interchangeable, they are not. New Jersey has both an estate tax and an inheritance tax. ![]()
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