NJ Stats: Estate and Inheritance Tax Policies by State, 2016

State Estate Tax Policy Inheritance Tax Policy
Connecticut Up to 12%. Starts at $2M. N/A
Delaware Up to 16%. Starts at federal threshold; $5.43M for 2015.  N/A
Hawaii Up to 15.7%. Starts at $5.43M. N/A
Illinois Up to 16%. Starts at $4M. Taxable estates between $4M and $5.43M (federal estate tax threshold for 2015) owe an Illinois estate tax without any corresponding Federal estate tax charges. N/A
Iowa N/A Up to 15%. Exemption amounts depend upon the relationship of the recipient or benficiary to the decedent. 
Kentucky N/A Up to 16%. All Class A beneficiaries are exempt if date of death is after June 30, 1998; Class B beneficiaries: $1,000 exemption; Class C beneficiaries: $500 exemption.
Maine Up to 12%. Starts at $2M. N/A
Maryland Up to 16%. Starts at $1.5M in 2015; $2M in 2016; exclusion will have phased increase to $3M in 2017 and $4M in 2018; after January 1, 2019, will increase to match federal exclusion.  Up to 10%.
Massachusetts Up to 16%. Starts at $1M.  N/A
Minnesota Up to 16%. Starts at $1.4M in 2015; exemption amount increases by $200,000 per year until it reaches $2M in 2018.  N/A
Nebraska N/A Up to 18%. Immediate relatives: $40K exemption; Remote relatives: $15K exemption; Non-relatives: $10K exemption
New Jersey Up to 16%. Starts at $675,000.  Up to 16%. Starts at $500. 
New York Up to 16%. Starts at $3.125M (for April 1, 2015-April 1, 2016); after January 1, 2019, exclusion will match the federal amount in given year.  N/A
Oregon Up to 16%. Starts at $1M.  N/A
Pennsylvania N/A Up to 15%. Does not apply to businesses under $5 million and less than 50 employees; business must have been open for 5 years at time of decedent’s death; business must continue to to be owned by a family member for at least 7 years after decedent’s date of death.
Rhode Island Up to 16%. Starts at $1.5M. Inflation will be accounted for starting in 2016.  N/A
Tennessee N/A Up to 9.5%. Starts at $5M in 2015; tax will not apply to estates of decedents dying in 2016 or thereafter.
Vermont Up to 16%. Starts at $2.75M N/A
Washington Up to 20%. Filing threshold is $2M; applicable exclusion rate for 2015 is $2.054M and for 2016 is $2.078M N/A

1. Connecticut Department of Revenue Services. “Connecticut Estate and Gift Taxes.” 2014.
Accessed January 2016. http://www.ct.gov/Drs/lib/drs/forms/2014forms/estateandgifttax/2014-ct-706-709-booklet.pdf
2. State of Delaware. “Title 30: State Taxes. Chapter 15: Estate Tax.” Accessed January 2016. http://delcode.delaware.gov/title30/c015/index.shtml
3. State of Hawaii Department of Taxation. “Hawaii Estate Tax Return.” 2015. Accessed January 2016. http://files.hawaii.gov/tax/forms/2015/m6_f.pdf
4. Illinois Attorney General. “Important Notice Regarding Illinois Estate Tax and Fact Sheet.” 2015. Accessed January 2016.
5. Iowa Department of Revenue. “An Introduction to Iowa Inheritance Tax.” Accessed February 2016. https://tax.iowa.gov/inheritance
6. Kentucky Department of Revenue. “A Guide to Kentucky Estate and Inheritance Taxes.” 2012. Accessed January 2016.
7. State of Maine, Maine Revenue Services. “Maine Estate Tax for Deaths Occurring after 2012.” October 2012. Accessed January 2016.
8. Comptroller of Maryland. “Estate Tax Calculation Method.” Accessed January 2016.
9. Massachusetts Department of Revenue. “A Guide to Estate Taxes (Applicable to dates of death on or after January 1, 2003).” January 11, 2016. Accessed January 2016.
10. Minnesota House of Representatives Research Department. “The Minnesota Estate Tax.” June 2015. Accessed February 2016.
11. Nebraska Department of Revenue. “State of Nebraska Tax Expenditure Report 2014: Section J—Inheritance Tax.” 2014. Accessed January 2016.
12. New Jersey Division of Taxation. “Inheritance and Estate Taxes Overview.” August 20, 2014. Accessed February 2016.
13. New York State Department of Taxation and Finance. “New York State Estate Tax Reformed.” August 25, 2014. Accessed January 2016.
14. Oregon Department of Revenue. “2015 Estate Transfer Tax.” July 2015. Accessed February 2016.
15. Pennsylvania Department of Revenue. ‘What are the requirements to qualify for the ‘family-owned business’ exemption from inheritance tax?”
December 23, 2015. Accessed February 2016.
16. Rhode Island Division of Taxation. “Rhode Island estate tax threshold and credit unchanged for 2016.” October 22, 2015. Accessed January 2016.
17. Tennessee Department of Revenue. “Inheritance Tax Guide.” June 2012. Accessed January 2016.
18. State of Vermont Legislature. “Vermont Estate Tax Presentation.” February 2015. Accessed January 2016.
19. Washington State Department of Revenue. “Estate Tax Tables.” Accessed January 2016.