Make the "NJ Inheritance Tax of 1892" Fairer

Make the "NJ Inheritance Tax of 1892" Fairer

What problem does it solve? Governor Murphy wants NJ to have a more secure and growing middle class and to treat all residents more fairly. The Estate Tax, which mainly taxed wealthier residents, was repealed last year. However, the Inheritance Tax of 1892 still exists and it unfairly targets and taxes people who die with much lower savings, and with no spouses and no direct lineal relatives (no children). The image that I attached explains the tax. What is your solution and who does it apply to? Although I understand that this challenge applies to changes that can be implemented by State employees, any changes to this unfair law would need to be made by the State Legislature. I am hoping that this challenge can increase and elevate the knowledge of this unfair law. What is the anticipated impact? Changing this tax to become fairer to NJ residents who die having low and middle-range wealth, would enable those savings to remain within the middle class, thus helping to realize Governor Murphy's vision of a stronger and fairer NJ.


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