NYC Mayor Mamdani proposes 50% estate tax and reduced exemption to address budget
New York City Mayor Zohran Mamdani is proposing a significant overhaul of the estate tax, including raising it to 50% and decreasing the exemption from $7 million to $750,000, as part of efforts to address a $7 billion budget deficit.
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Why does Mamdani want a 50% estate tax? Inside New York’s proposed ‘death tax’ overhaul
New York City Mayor Zohran Mamdani proposes raising the estate tax to 50% and decreasing the exemption to $750,000
Read full article →Mamdani Proposes Massive Estate Tax Exemption Cut From $7M To $750K, Among Other Tax Increases
Mamdani Proposes Massive Estate Tax Exemption Cut From $7M To $750K, Among Other Tax Increases New York City Mayor Zohran Mamdani is urging Albany to consider a sweeping overhaul of New York’s estate tax, proposing to sharply lower the exemption threshold and dramatically increase the top rate on large inheritances. His plan would cut the exemption from more than $7 million to $750,000 while boosting the highest tax rate from 16 percent to 50 percent, Bloomberg reported. The id...
By Tyler Durden
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