N.Y. Tax Law § 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.