New York State's estate tax is calculated using the tax table provided on Form ET706. There are multiple versions of Form ET-706.Our guide to estate taxes includes U.S. federal, state, and inheritance tax rules. The inheritance tax is a tax imposed on beneficiaries who inherit assets from an estate. Learn who may owe inheritance taxes and how they are calculated. Use the free New Jersey Online Filing Service to file your 2024 NJ-1040 return. It's simple and easy to follow the instructions, complete your NJ tax return,.