The late 1860s and 1870s were a period of breakneck railroad construction and consolidation. Although it is commonplace to dwell on the completion of a transcontinental rail line in 1869, the extensive reconstruction and expansion of southern railroads destroyed during the Civil War was of equal importance.
Originally Posted by snopes. Comment: there is this rumor that keeps circulating around Monmouth county. New Jersey, that when selling your house and relocating out of state, that. you have to pay a New Jersey Exit Tax-up to 1% of the sell price....what.
However, in New Jersey, since the state estate tax exemption is only $675,000, if the Credit Shelter Trust is funded with more than $675,000, this will cause some New Jersey Estate Tax to be paid. For example, if the $2 million is funded, the tax to the State of New Jersey is $99,600.