That Pesky Tax Waiver – Part 1

                As I have written in previous posts, New Jersey did away with its estate tax in 2018.  This was part of a compromise between the state legislature and then Governor Christie who agreed to an increase in New Jersey’s gasoline tax.  I have also pointed out that we still have an inheritance tax in New Jersey, although the number of estates that must pay inheritance tax is very small.  That’s because most decedents leave their assets to spouses, children and grandchildren who are exempt from inheritance tax.                 Yet, we are finding that there are a number of estates where we must file an inheritance tax return even though no inheritance tax is owed.  That might seem strange.  The reason, however, is New Jersey’s tax waiver system.  I last wrote about the tax…

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