With the Gas Tax Bill Comes the Elimination of the NJ Estate Tax
By Ruth Raftery
The much discussed bill raising the New Jersey gas tax by 23 cents per gallon was signed by Governor Christie on Friday October 14th. Although not as widely publicized, the new law provides for another major change – the complete elimination of the New Jersey state estate tax.
Up to now, and for the remainder of 2016, New Jersey has the lowest estate tax exemption in the country, subjecting estates worth more than $675,000 to estate tax at the time of death. By way...
