![]() ![]() Final Miscellaneous Notes on the Inheritance Tax Class E beneficiaries are charitable organizations and non-profit organizations and are exempt from tax. They are taxed at 15% with an excess over $100,000 taxed at 16%. Class D beneficiaries are all individuals who are not a Class A, C, or E beneficiary. Class C beneficiaries are not exempt from this class $25,000 is exempt from tax, then the rates run from 11%-16% thereafter. Class A beneficiaries are exempt from tax. The rates of tax imposed by the state depend upon the class the beneficiary is in the rates of tax are imposed by the state. New Jersey recognizes four classes of beneficiaries: A, C, B & E. The inheritance tax is, therefore, based on the relationship of the decedent to the beneficiary. An inheritance to a sibling, i.e., a sister, to a cousin, to your neighbor, is. An inheritance to a son is not subject to inheritance tax. All other beneficiaries (except qualified charitable organizations) are subject to inheritance tax. Property passing to a surviving spouse, civil union or domestic partner, parents, grandparents, children, stepchildren or grandchildren is exempt from this tax. ![]() New Jersey imposes a transfer inheritance tax, at graduated rates, on property having a total value of $500.00 or more which passes from a decedent to a non-exempt beneficiary. It’s only one of five states in America that does, but it doesn’t apply to everyone. ![]() When Must New Jersey Death and Inheritance Taxes be Paid? The New Jersey Inheritance Tax ![]()
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