2023 New York Laws › TAX - Tax › Article 26 - Estate Tax › Part 1 - Computation of Tax › 952 - Tax Imposed.

§ 952. Tax imposed. (a) A tax is hereby imposed on the transfer of the
New York estate by every deceased individual who at his or her death was
a resident of New York state.
(b)  Computation  of  tax.  The  tax  imposed by this section shall be
computed on the deceased resident's New York taxable estate as follows:
If the New York taxable estate is:      The tax is:
Not over $500,000                       3.06% of taxable estate
Over $500,000 but not over $1,000,000   $15,300 plus 5.0% of excess over
$500,000
Over $1,000,000 but not over $1,500,000 $40,300 plus 5.5% of excess over
$1,000,000
Over $1,500,000 but not over $2,100,000 $67,800 plus 6.5% of excess over
$1,500,000
Over $2,100,000 but not over $2,600,000 $106,800 plus 8.0% of excess
over $2,100,000
Over $2,600,000 but not over $3,100,000 $146,800 plus 8.8% of excess over
$2,600,000
Over $3,100,000 but not over $3,600,000 $190,800 plus 9.6% of excess over
$3,100,000
Over $3,600,000 but not over $4,100,000 $238,800 plus 10.4% of excess
over $3,600,000
Over $4,100,000 but not over $5,100,000 $290,800 plus 11.2% of excess
over $4,100,000
Over $5,100,000 but not over $6,100,000 $402,800 plus 12.0% of excess
over $5,100,000
Over $6,100,000 but not over $7,100,000 $522,800 plus 12.8% of excess
over $6,100,000
Over $7,100,000 but not over $8,100,000 $650,800 plus 13.6% of excess
over $7,100,000
Over $8,100,000 but not over $9,100,000 $786,800 plus 14.4% of excess
over $8,100,000
Over $9,100,000 but not over            $930,800 plus 15.2% of excess over
$10,100,000                             $9,100,000
Over $10,100,000                        $1,082,800 plus 16.0% of excess
over $10,100,000
(c) Applicable credit amount. (1) A credit of  the  applicable  credit
amount  shall  be  allowed  against  the  tax imposed by this section as
provided in this subsection. In the case of a decedent  whose  New  York
taxable  estate is less than or equal to the basic exclusion amount, the
applicable credit amount shall be the amount of tax that  would  be  due
under subsection (b) of this section on such decedent's New York taxable
estate.  In the case of a decedent whose New York taxable estate exceeds
the basic exclusion amount by an amount that is less than  or  equal  to
five  percent  of such amount, the applicable credit amount shall be the
amount of tax that would be due under subsection (b) of this section  if
the  amount  on  which the tax is to be computed were equal to the basic
exclusion amount multiplied by one minus a fraction,  the  numerator  of
which  is  the  decedent's  New  York  taxable  estate  minus  the basic
exclusion amount, and the denominator of which is five  percent  of  the
basic  exclusion  amount.  Provided, however, that the credit allowed by
this subsection shall not exceed the tax imposed by this section, and no
credit shall be allowed to the estate of any  decedent  whose  New  York
taxable  estate  exceeds one hundred five percent of the basic exclusion
amount.
(2) (A) For purposes of this section, the basic exclusion amount shall
be as follows:
In the case of decedents dying on or after: The basic  exclusion  amount
is:

April 1, 2014 and before April 1, 2015       $ 2,062,500
April 1, 2015 and before April 1, 2016       3,125,000
April 1, 2016 and before April 1, 2017       4,187,500
April 1, 2017 and before January 1, 2019     5,250,000
(B)  In the case of any decedent dying in a calendar year beginning on
or after January first,  two  thousand  nineteen,  the  basic  exclusion
amount shall be equal to:
(i) five million dollars, multiplied by
(ii)  one  plus  the  cost-of-living  adjustment,  which  shall be the
percentage by which the consumer price index for the preceding  calendar
year  exceeds  the  consumer  price index for calendar year two thousand
ten.
(C) (i) For purposes of this paragraph, "consumer price  index"  means
the  most  recent consumer price index for all-urban consumers published
by the United States department of labor.
(ii)  For  purposes  of  clause  (ii)  of  subparagraph  (B)  of  this
paragraph,  the  consumer price index for any calendar year shall be the
average of the consumer price index as of the close of the  twelve-month
period ending on August thirty-first of such calendar year.
(iii) If any amount adjusted under this paragraph is not a multiple of
ten  thousand  dollars,  such  amount  shall  be  rounded to the nearest
multiple of ten thousand dollars.