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Estate Taxes in New Hampshire

Does New Hampshire collect an estate tax?

If you have been appointed an executor or administrator of a New Hampshire estate, you're going to eventually need to know what taxes will be imposed upon the estate, if any. At Hebert & Dolder PLLC, our Concord probate attorneys have been assisting clients in their probate proceedings for over 20 years. We take our job seriously and take pride in helping executors and administrators carry out their duties as smoothly and efficiently as possible.

What is an estate tax? This is a tax imposed upon the transfer of assets of every estate which was subject to an estate tax under the provisions of the United States Internal Revenue Code of 1986. However, if the decedent lived in New Hampshire, you no longer have to worry about New Hampshire collecting a state estate tax. For deaths occurring on or after Jan. 1, 2005, a New Hampshire estate tax return is not required because of the federal repeal of the estate death tax credit.

The Legacy and Succession Tax (RSA 86) was also repealed, effective for deaths occurring on or after Jan. 1, 2003; therefore, this tax no longer applies either.

Federal Estate Taxes

Since New Hampshire residents no longer pay a state estate tax, it is the federal estate tax that receives more attention. However, only the richest American families need to be concerned about the federal estate tax, which only applies to very large estates. For death occurring in 2014, the individual exemption amount is set at $5.34 million.

If you are handling a larger estate that is subject to the federal estate tax, there are some deductions available that reduce the estate tax, including:

  • Marital deduction
  • Charitable deduction
  • Mortgages and debt
  • Administration expenses of the estate
  • Losses sustained during estate administration

Contact a Concord Probate Attorney

Do you have further questions about estate taxes? If so, we encourage you to contact one of our Concord probate lawyers at Hebert & Dolder PLLC. We would be more than happy to meet with you in a consultation and answer all of your questions. You can reach us at (603) 259-7061 for professional assistance with your probate matter.

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Hebert & Dolder PLLC - Concord Business Lawyer

Concord Office:
95 N State St,
Concord, NH 03301.
Phone: (603) 259-7061.
Fax: (603) 580-2072
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