New Jersey S1893 eliminates the Transfer Inheritance Tax and repeals related statutory sections.

New Jersey S1893 eliminates the Transfer Inheritance Tax, which taxed the transfer of assets from New Jersey resident decedents and certain nonresident decedents' New Jersey assets. The repeal applies to transfers associated with deaths occurring on or after July 1, 2021. The bill also repeals parts of chapters 33 through 37 of Title 54 of the Revised Statutes, affecting the legal framework for inheritance tax enforcement.

New Jersey S1893 eliminates the Transfer Inheritance Tax and repeals related statutory sections.

New Jersey S1893 eliminates the Transfer Inheritance Tax, which taxed the transfer of assets from New Jersey resident decedents and certain nonresident decedents' New Jersey assets. The repeal applies to transfers associated with deaths occurring on or after July 1, 2021. The bill also repeals parts of chapters 33 through 37 of Title 54 of the Revised Statutes, affecting the legal framework for inheritance tax enforcement.