N.J. Admin. Code § 18:26-3A.8

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

Section 18:26-3A.8 - Filing of tax return and other information

(a) The executor, administrator, trustee, other person, or corporation liable for the payment of the estate tax must file with the Director a copy of any Federal estate tax return filed or required to be filed within 30 days after the filing or required filing of the original with the Federal government, any other evidence, information, or data that the Director deems necessary. A copy of any communication from the Federal government, making any intermediate or final change in said return, or confirming, increasing, or diminishing the tax thereby shown to be due, is to be filed within 30 days after receipt thereof

(b) The executor, administrator, trustee, other person, or corporation liable for the payment of the estate tax must file with the Director a copy of the tax return filed and a copy of any receipts for payment of succession or estate taxes to other states or territories of the United States or the District of Columbia.

(c) A New Jersey estate tax return must be filed whenever the gross estate plus adjusted taxable gifts as determined in accordance with the provisions of the Internal Revenue Code in effect on December 31, 2001, exceeds $ 675,000. The executor, administrator, trustee, other person, or corporation liable for the payment of the estate tax must prepare and file with the Director a New Jersey estate tax return form IT-ESTATE, and:

1. A Form 706 completed in accordance with the provisions of the Internal Revenue Code, U.S.C. §§ 1 et seq., in effect on December 31, 2001, within 30 days after the date on which a Federal estate tax return would have been due under those provisions for a decedent dying on that date; or

2. A New Jersey transfer inheritance tax return completed in accordance with the provisions of the transfer inheritance tax statutes and rules in effect on December 31, 2001, within nine months of the date of death of the decedent.

(d) In those cases where a taxpayer makes an election for Federal estate tax purposes, a like election must be made for New Jersey estate tax purposes. Assets and deductions must be treated in the same manner for both Federal and New Jersey estate tax purposes.

(e) If the decedent was a partner in a civil union and died on or after February 19, 2007, survived by his or her partner, a marital deduction equal to that permitted a surviving spouse under the provisions of the Internal Revenue Code in effect on December 31, 2001, is permitted to the surviving civil union partner for New Jersey estate tax purposes. In these cases, a pro forma 2001 Form 706 should be completed as though the Internal Revenue Code treated a surviving civil union partner and a surviving spouse in the same manner.

(f) A simplified tax system method may also be used, subject to the limitations in N.J.A.C. 18:26-3A.3, and only in those situations where a Federal estate tax return has not and will not be filed nor is a tax return required to be filed with the Internal Revenue Service. The simplified tax system requires that a Form IT-Estate be prepared and filed along with a New Jersey transfer inheritance tax return Form IT-R completed in accordance with the provisions of the transfer inheritance tax statute in effect at the time of decedent's death.

N.J. Admin. Code § 18:26-3A.8

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