Estate Tax Chart

On April 1, 2014, Governor Cuomo signed the New York Executive Budget for 2014-2015.  In that budget the New York estate tax rules were modified.  Among other modifications, the estate tax exemption for New York State residents was increased.  The increases are to be phased in incrementally through 2019 when the exemption will match the Federal Estate Tax exemption amount (currently $5,340,000 and indexed for inflation).  

New York Estate Tax Exemption
Date of death	Exemption
Prior to April 1, 2014	$1,000,000
April 1, 2014 – March 31, 2015	$2,062,500
April 1, 2015 – March 31, 2016	$3,125,000
April 1, 2016 – March 31, 2017	$4,187,500
April 1, 2017 – December 31, 2018	$5,250,000
January 1, 2019, and on	Matches Federal exemption amount