2024 Estate Tax Exemption Ny. It is indexed for inflation with 2010 as the base year for this. The new york estate tax exemption, like the federal exemption, is a tax exemption that reduces the amount of estate taxes that must be paid.

When a spouse passes away, their estate plan will direct an amount equal to the new york estate tax exemption ($6.94 million in 2024). Real estate excise tax (reet) state law mandates king county collect the real estate excise tax (reet) on the sales of real estate.