New Jersey Estate Tax—Permanent Repeal?
As many of you know, the new Democratic Governor of New Jersey, Phil Murphy, was engaged in a recent budget showdown with members of his own party. A last minute government shutdown was avoided, however, as the legislature and the Governor came to terms on a variety of tax increases and spending priorities. For more […]
Benefit of a Life Insurance Trust after the Repeal of NJ Estate Tax
As we get closer to the repeal of the New Jersey Estate Tax on January 1, 2018, it is important to remember that New Jersey has NOT gotten rid of its inheritance tax. Accordingly, if you wish to leave money to brothers, sisters, nieces, nephews, friends or a significant other (besides a spouse) and if […]
NJ Estate Tax Repeal: How Does This Affect You?
It’s official. According to NJ.com, Governor Christopher Christie has signed a bill to repeal the New Jersey Estate Tax. The new law is part of a larger package deal that increases the gas tax, reduces the sales tax slightly, gives the working poor a larger tax credit, gives a tax cut on retirement income and gives a tax […]
The NJ Estate Tax is Repealed! Almost.
According to NJ.com, effective October 7, 2016, the New Jersey Legislature has approved a bill that will repeal the New Jersey estate tax. We are only awaiting the signature of Governor Christopher Christie before the law is enacted, and rumor is that he has promised to sign the bill. Under current New Jersey law, a […]
New Jersey Estate Tax Deal
According to various news reports, it appears that New Jersey will officially be eliminating the estate tax. The deal to eliminate the estate tax is part of a larger deal that increases the gas tax, reduces the sales tax slightly, gives the working poor a larger tax credit, gives a tax cut on retirement income […]
Is NJ finally going to repeal the Estate Tax and the Inheritance Tax?
I tend not to get too excited about any legislation until it is actually signed, but there is a fair amount of rumbling from both Republicans and Democrats about repealing the NJ Estate Tax. The NJ Transportation Trust fund is running out of money, and Governor Christie has refused to sign any deal to increase […]