Legal Question in Wills and Trusts in New York
estate taxes
in new york what amount is exempt before you must pay estate taxes
Asked on 6/10/08, 3:59 pm
2 Answers from Attorneys
Michael Markowitz
Michael A. Markowitz, PC
Re: estate taxes
Under NY Tax section 952, "The tax imposed by this subsection shall be an amount equal to the maximum amount allowable against the federal estate tax as a credit for state death taxes under section two thousand eleven of the internal revenue code." Therefore, the amount is $1 million.
Answered on 6/10/08, 4:38 pm
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