As per legislation that New Jersey Governor Chris Christie signed into law on October 14, 2016:

• As of January 1, 2018, New Jersey residents will no longer be subject to New Jersey’s estate tax, regardless of the size of their estate.
• As of January 1, 2017, New Jersey residents with taxable estates of two million dollars ($2,000,000) or less will not be subject to this tax.

(Pursuant to current law that is effective until December 31, 2016, New Jersey residents are only exempt from the Estate tax if their taxable estate is under $675,001.)

This legislation would reduce the incentive for New Jersey residents to move to a State with no Estate tax, such as Florida.  However, New Jersey resident decedents will still be subject to New Jersey’s Inheritance Tax, which would be triggered if Estate assets are bequeathed to persons other than a decedent’s spouse, ancestors, or descendants (i.e., the decedent’s nephew or niece), and could be as high as sixteen percent (16%) with respect to the fair market value of these assets.  In addition, New Jersey residents would continue to be subject to the New Jersey Gross Income Tax, which could be as a high as eight point nine seven percent (8.97%) with respect to income over five hundred thousand dollars ($500,000).