New York Gift Tax Guide (2026)
Everything you need to know about gift tax, estate tax, and inheritance tax in New York.
New York Tax Overview
New York has an estate tax with a 'cliff' — if the estate exceeds 105% of the exemption, the ENTIRE estate is taxed, not just the excess. No separate gift tax, but gifts made within 3 years of death may be added back.
Federal Gift Tax in New York
Regardless of New York's state tax laws, the federal gift tax applies uniformly. For 2026:
You can give up to $19,000 per person per year without any gift tax consequences. Gifts exceeding this amount count against your $15,000,000 lifetime exemption and require Form 709 filing.
Gift Tax Planning Tips for New York Residents
Use the annual exclusion to make tax-free gifts to family members each year
Pay tuition and medical bills directly to institutions for unlimited tax-free transfers
Consider gift splitting if married to double your annual exclusion
Consult with a local estate planning attorney about state-specific considerations
Be aware of New York's estate tax when planning lifetime gifts