Updated October 5, 2026. Quick answer: No. New York has no gift tax for a gift made in 2026. A Tax Department memo says “the New York State gift tax is repealed for gifts” made on or after January 1, 2000. The memo is dated 1997 and is marked historical, so this page also relies on the Department’s current estate tax page, which treats gifts only as an estate add-back. The federal annual exclusion is $19,000 per recipient for 2026.
Putting a loan in writing? The interest limit, the signing rules and the time limit to sue, from the state’s own statutes: New York promissory note.
New York gift tax at a glance
| Item | What the documents say |
|---|---|
| State gift tax | None |
| What the documents say | A 1997 Tax Department memo says Article 26-A, the gift tax, was repealed for gifts made on or after January 1, 2000 |
| State estate or inheritance tax | Yes: a New York estate tax, with a basic exclusion amount of $7,350,000 for dates of death in 2026 |
| Gifts made close to death | The estate adds back taxable gifts made during the three-year period ending on the date of death |
| Federal annual exclusion, 2026 | $19,000 per recipient |
| Federal basic exclusion amount, 2026 | $15,000,000 |
| Source | NY State Department of Taxation and Finance; IRS Revenue Procedure 2025-32 |
What the New York documents say
The memo (TSB-M-97(8)M) lists the changes made by Chapter 389 of the Laws of 1997, including a provision that “Repeals Article 26-A of the” Tax Law, the gift tax, applicable to gifts made on or after January 1, 2000. The Department’s copy carries a notice that it is historical and may not reflect current law.
Estates, inheritances and gifts near death in New York
The Department’s current estate tax page says that under section 2503 of the Internal Revenue Code “the estate must add back any taxable gift” made during the three-year period that ends on the decedent’s date of death and not already included in the federal gross estate, with listed exceptions (for example, gifts made while the decedent was a nonresident). It states the basic exclusion amount for 2026 deaths: “through December 31, 2026 is $7,350,000”.
What applies to a gift from a New York resident
Federal gift tax is separate and applies wherever you live. The IRS says gifts “not more than the annual exclusion for the calendar year” are generally not taxable gifts, and Revenue Procedure 2025-32 sets the 2026 annual exclusion at “the first $19,000 of gifts to any person”. The same procedure puts the basic exclusion amount at “$15,000,000 for calendar year 2026”. The IRS adds that “The donor is generally responsible for paying the gift tax”.
An illustration: a $50,000 gift to one child in 2026 is $31,000 above the federal annual exclusion, and New York adds no gift tax of its own on top of that. CMG’s gift tax limit and Form 709 who must file pages explain the federal side, and how New York taxes 401(k) and IRA withdrawals covers a gift of retirement money.
What the documents do not say
- No current Tax Department page read says in so many words that New York has no gift tax; the repeal rests on the 1997 memo, which the Department marks historical. The documents read do not state whether New York levies an inheritance tax.
Common mistakes
- Reading the three-year add-back as a gift tax; it is a rule for the estate tax of a New York resident, and a gift made more than three years before death is outside it (subject to the listed rules).
- Assuming the state answer settles the federal one, or the answer for a gift of property located in another state.
Related: the federal gift tax limit, gift tax by state, New York estate tax, and New York probate cost.
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Answer againSources
- TSB-M-97(8)M Estate & Gift Tax: 1997 Amendments to Estate and Gift Taxes (Article 26 and 26A of the Tax Law): https://www.tax.ny.gov/pdf/memos/estate_&_gift/m97_8m.pdf
- Estate tax: https://www.tax.ny.gov/pit/estate/etidx.htm
- Revenue Procedure 2025-32 (Internal Revenue Service): https://www.irs.gov/pub/irs-drop/rp-25-32.pdf
- Frequently asked questions on gift taxes (Internal Revenue Service): https://www.irs.gov/businesses/small-businesses-self-employed/frequently-asked-questions-on-gift-taxes
Sources: the primary documents linked above, read on October 5, 2026. General information, not tax advice. Your own facts decide the outcome, and a tax professional or the state agency itself is the right place to confirm anything consequential.