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Question

What’s the difference between New York and federal estate tax?

Answer

The key differences are the exemption amounts and the cliff. New York’s 2026 exclusion is $7.35 million, while the federal exemption is $15 million per person. New York also has the estate tax cliff, which eliminates the exclusion entirely for estates above 105% of the threshold. Additionally, New York doesn’t allow portability between spouses, while federal law does.

Related FAQs

What is the New York estate tax?

How can a credit shelter trust help with New York estate tax planning?

Where can I find the current New York estate tax exemption amount?
Estate Planning Tax Planning Asset Protection Trusts Living in Retirement Tax Tips & Tricks Protecting Your Legacy Generational Wealth FAQs
Last Updated Oct. 20, 2026
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