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

Sources:
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.
http://www.illinoisattorneygeneral.gov/publications/pdf/2015_Instruction_Fact_Sheet.pdf
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.
http://revenue.ky.gov/NR/rdonlyres/6D844DC9-B300-4EE7-963E-DB141FC0AED6/0/guide_2012.pdf
7. State of Maine, Maine Revenue Services. “Maine Estate Tax for Deaths Occurring after 2012.” October 2012. Accessed January 2016.
http://www.maine.gov/revenue/incomeestate/guidance/estate_guidance_2013.pdf
8. Comptroller of Maryland. “Estate Tax Calculation Method.” Accessed January 2016.
http://taxes.marylandtaxes.com/Individual_Taxes/Individual_Tax_Types/Estate_and_Inheritance_Tax/Filing_Information/Estate_Tax_Calculation_Method.shtml
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.
http://www.mass.gov/dor/individuals/taxpayer-help-and-resources/tax-guides/estate-tax-information/estate-tax-guide.html
10. Minnesota House of Representatives Research Department. “The Minnesota Estate Tax.” June 2015. Accessed February 2016.
http://www.house.leg.state.mn.us/hrd/pubs/ss/ssesttx.pdf
11. Nebraska Department of Revenue. “State of Nebraska Tax Expenditure Report 2014: Section J—Inheritance Tax.” 2014. Accessed January 2016.
http://www.revenue.nebraska.gov/research/tax_expenditure_rep/2014/Section_J.pdf
12. New Jersey Division of Taxation. “Inheritance and Estate Taxes Overview.” August 20, 2014. Accessed February 2016.
http://www.state.nj.us/treasury/taxation/inheritance_over.shtml
13. New York State Department of Taxation and Finance. “New York State Estate Tax Reformed.” August 25, 2014. Accessed January 2016.
https://www.tax.ny.gov/pdf/memos/estate_&_gift/m14_6m.pdf
14. Oregon Department of Revenue. “2015 Estate Transfer Tax.” July 2015. Accessed February 2016.
http://www.oregon.gov/DOR/forms/FormsPubs/form-or-706_104-001_2015.pdf
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.
https://revenue-pa.custhelp.com/app/answers/detail/a_id/3058/~/what-are-the-requirements-to-qualify-for-the-%E2%80%9Cfamily-owned-business%E2%80%9D-exemption
16. Rhode Island Division of Taxation. “Rhode Island estate tax threshold and credit unchanged for 2016.” October 22, 2015. Accessed January 2016.
http://www.tax.state.ri.us/Tax%20Website/TAX/Advisory/ADV%202015-17.pdf
17. Tennessee Department of Revenue. “Inheritance Tax Guide.” June 2012. Accessed January 2016.
https://www.tn.gov/assets/entities/revenue/attachments/inheritoutline.pdf
18. State of Vermont Legislature. “Vermont Estate Tax Presentation.” February 2015. Accessed January 2016.
http://legislature.vermont.gov/assets/Documents/2016/WorkGroups/Senate%20Finance/Bills/S.55/W~Sara%20Teachout~Vermont%20Estate%20Tax%20Presentation~2-26-2015.pdf
19. Washington State Department of Revenue. “Estate Tax Tables.” Accessed January 2016.
http://dor.wa.gov/content/findtaxesandrates/othertaxes/tax_estatetaxtables.aspx