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What is the amount of taxes that you pay in NJ

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for an inheritance of 10.2...
What is the amount of taxes that you pay in NJ for an inheritance of 10.2 million?
Submitted: 2 years ago.Category: Tax
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6/22/2015
Tax Professional: Robin D., Senior Tax Advisor 4 replied 2 years ago
Robin D.
Robin D., Senior Tax Advisor 4
Category: Tax
Satisfied Customers: 17,869
Experience: 15years with H & R Block. Divisional leader, Instructor
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Hello,NJ inheritance tax is based on your relationship to the deceased and then the rate applies based on the dollar amount.Class A beneficiaries, which include spouses, civil union partners, domestic partners, parents, grandparents, and descendants (including those legally adopted), are also exempt from the New Jersey inheritance tax.Class C beneficiaries (brother or sister of decedent; husband, wife, or widow(er) of a child of decedent; civil union partner or surviving civil union partner of a child of decedent) are taxed at 11%–16%, with the first $25,000 exempt. Class D beneficiaries (not otherwise classified) are taxed at 15%–16%, with no tax on transfers having an aggregate value of less than $500.
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Tax Professional: Robin D., Senior Tax Advisor 4 replied 2 years ago
I hope the information was useful. Please advise if you need clarification before you rate.
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Robin D.
Robin D.
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