Federal And State Estate Taxes Are Best Described As In New York
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New York State's estate tax is calculated using the tax table provided on Form ET706. There are multiple versions of Form ET-706.The New York estate tax is calculated quite differently from the Federal estate tax. New York Has State Inheritance Taxes That Differ From Federal Estate Taxes. New York is one of the states that administers its own estate tax and has a relatively low estate tax exemption amount. The Estate Tax is a tax on your right to transfer property at your death.