N.J. Admin. Code § 18:26-9.13

Current through Register Vol. 56, No. 21, November 4, 2024

Section 18:26-9.13 - Payment on executory devise or transfer subject to a contingency or power of appointment

(a) With respect to the payment of the tax due on an executory devise, or a transfer subject to a contingency or power of appointment, any payment on such a transfer after the expiration of two months from the date the contingency occurs or the property vests, will bear interest at the rate of 10 percent per annum from the expiration of the two-month period, until the date of actual payment.

(b) In any case where a contingent remainder vests in beneficial possession and enjoyment subsequent to the death of the original decedent, but prior to the expiration of the statutory interest period, interest on the contingent tax does not start to accrue until eight months from the date of death of the original decedent.

Adopted by 50 N.J.R. 1624(a), effective 7/16/2018