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Nehmad Perillo & Davis remains on the cutting edge of legal news, recently released court opinions, legislative news and upcoming events which affect the business and real estate sectors of New Jersey.  Our blog chronicles emerging issues that affect your company and livelihood, from estate planning and tax appeals to real estate development and corporate organizations.  We also focus on your individual legal needs with updates on education law affecting your children and grandchildren and estate planning updates to assist you in protecting your assets for future generations.  Check back often or follow us on twitter for legal updates.

New Jersey Estate Tax-Soon to be a Thing of the Past

For years New Jersey has been an unfriendly place to die, given the fact that it imposes both a Transfer Inheritance Tax and an Estate Tax, or both, on some estates. New Jersey’s Estate Tax is currently imposed upon all estates exceeding $675,000. However, on October 14, 2016 Governor Christie signed a new law that increases the Estate Tax threshold from $675,000 to $2,000,000 starting January 1, 2017. One year later as of January 1, 2018, the New Jersey Estate Tax will be repealed completely. This should be a welcome relief and give New Jersey residents less of a reason to leave the Garden State to seek domiciles in other states.