9. New York

• Estate tax: Yes
• Estate tax rates: 3.06%-16%
• Estate tax exemption level: $6.58 million

For 2023, estates exceeding a threshold of $6.58 are subject to New York’s death tax (the exemption amount is adjusted every year for inflation). Taxable gifts made by the decedent within three years prior to death are also included as part of the estate (this only applies if the decedent was a New York resident). The death tax rate ranges from 3.06% to 16%.

The estate tax in New York is a “cliff tax.” This means that if the estate is worth more than 105% of the current tax exemption, the exemption will no longer be available, and the entire estate will be subject to the state death tax.