New Jersey A2991 phases out the transfer inheritance tax over two years.

New Jersey A2991 reduces the transfer inheritance tax over two years. In the first year after enactment, the tax remains at 50% of the current rates. In the second year, the tax is eliminated entirely. This bill affects transfers of personal and real property in the estates of New Jersey resident and nonresident decedents.

New Jersey A2991 phases out the transfer inheritance tax over two years.

New Jersey A2991 reduces the transfer inheritance tax over two years. In the first year after enactment, the tax remains at 50% of the current rates. In the second year, the tax is eliminated entirely. This bill affects transfers of personal and real property in the estates of New Jersey resident and nonresident decedents.