New Jersey A 1755: Eliminates the New Jersey Transfer Inheritance Tax and repeals parts of chapters 33 through 37 of Title 54 of the Revised Statutes.

Bill Text

(Sponsorship Updated As Of: 12/11/2025)
ASSEMBLY, No. 1755

STATE OF NEW JERSEY
221st LEGISLATURE

PRE-FILED FOR INTRODUCTION IN THE 2024 SESSION

Sponsored by:
Assemblyman BRIAN E. RUMPF
District 9 (Ocean)
Assemblyman JAY WEBBER
District 26 (Morris and Passaic)
Assemblyman GREGORY E. MYHRE
District 9 (Ocean)

Co-Sponsored by:
Assemblyman DePhillips

SYNOPSIS
Eliminates the New Jersey Transfer Inheritance Tax and repeals parts of
chapters 33 through 37 of Title 54 of the Revised Statutes.

CURRENT VERSION OF TEXT
Introduced Pending Technical Review by Legislative Counsel.

A1755 RUMPF, WEBBER
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AN ACT eliminating the Transfer Inheritance Tax and repealing 1
parts of the statutory law. 2
3
BE IT ENACTED by the Senate and General Assembly of the State 4
of New Jersey: 5
6
1. The following sections are repealed: 7
R.S.54:33-1 through R.S.54:33-12; 8
R.S.54:34-1 through R.S.54:34-10; 9
R.S.54:34-12; 10
R.S.54:34-13; 11
R.S.54:35-1 through R.S.54:35-22; 12
R.S.54:36-1 through R.S.54:36-7; 13
R.S.54:37-1 through R.S.54:37-8; 14
section 1 of P.L.1940, c.220 (C.54:33-9.1); 15
section 2 of P.L.1985, c.57 (C.54:33-14); 16
section 1 of P.L.1955, c.135 (C.54:34-1.1); 17
section 4 of P.L.1978, c.172 (C.54:35-4.1); 18
section 1 of P.L.1947, c.369 (C.54:35-5.1); 19
section 2 of P.L.1956, c.54 (C.54:35-10.1); and 20
section 1 of P.L.1939, c.122 (C.54:35-23). 21
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2. This section applies to the transfer of the estate of every 23
decedent dying before July 1, 2015 with respect to the laws 24
repealed by section 1 of P.L. , c. . 25
The repeal shall not affect any obligation, lien or duty to pay 26
taxes, interest or penalties which have accrued or may accrue by 27
virtue of any taxes imposed pursuant to the provisions of the laws 28
repealed, or which may be imposed with respect to any 29
redetermination, correction, recomputation or deficiency 30
assessment. 31
All taxes and returns which would have been due and payable 32
under the provisions of the laws repealed shall be due and payable 33
as if the laws were in effect. 34
The repeal shall not affect the legal authority of the State to audit 35
records and assess and collect taxes due or which may be due, 36
together with such interest and penalties as have accrued or would 37
have accrued thereon under the provisions of the laws repealed. 38
The repeal shall not affect any determination of, or affect any 39
proceeding for, the enforcement of the laws repealed. 40
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3. This act shall take effect immediately and apply to transfers 42
associated with deaths occurring on or after July 1, 2015. 43
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45
STATEMENT 46
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This bill repeals the Transfer Inheritance Tax for transfers of 48

A1755 RUMPF, WEBBER
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estate for decedents dying on or after July 1, 2015. 1
Currently, New Jersey imposes a Transfer Inheritance Tax on 2
beneficiaries for the receipt of assets from a New Jersey resident 3
decedent and certain New Jersey assets of nonresident decedents, as 4
determined by the value of the assets transferred and the 5
beneficiary's relationship to the decedent. 6
The Transfer Inheritance Tax is one of the State's oldest taxes, 7
originating in 1892. The tax is imposed on the transfer of all 8
personal and real property in the estates of New Jersey resident 9
decedents and of all tangible and real property located in New 10
Jersey in the estates of nonresident decedents. The tax was 11
extensively revised in 1985 to exempt from taxation transfers to 12
spouses, ancestors and descendants of the decedent. But "lateral" 13
transfers, bequests to brothers and sisters of the decedent or their 14
children, and to nonrelatives are taxed at rates of up to 16 percent. 15
This bill would eliminate all remaining taxable “classes” of 16
beneficiaries and eliminate New Jersey’s distinction as being one of 17
only six states to impose an inheritance tax, and of being one of 18
only two states, including Maryland, to impose both an inheritance 19
tax and an estate tax. 20