Estate Tax Exemption 2024 Nys. The federal estate and gift tax exemption (the combined amount you can give away to beneficiaries other than your spouse or charities during life and at death. Before new legislation was passed in 2014, the new york exclusion amount was $1,000,000, and.
The estate tax is computed based on the new york taxable estate of a resident or nonresident using the following tax table: The state has set an estate tax exclusion amount, which for 2024 stands at $6,940,000, adjusted annually for inflation.