N.J. Admin. Code § 18:26-8.15

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

Section 18:26-8.15 - Government bonds and securities

(a) Treasury bonds and similar negotiable obligations issued by the United States are valued at:

1. The intermediate price between the low and high price prevailing on the date of death of the decedent if traded on an exchange or over the counter;

2. If there were no sales of bonds or similar negotiable obligations issued by the United States on the date of death, either the mean between the highest and lowest selling price for the previous day, or the nearest trading day prior to the date of death, or the prorated value used for Federal estate tax purposes reflecting the mean between the highest and lowest selling price on the nearest trading dates prior to and subsequent to the date of death may be used. The Alternative Valuation Date method of valuing bonds for Federal estate tax purposes is, however, not acceptable for New Jersey transfer inheritance tax purposes. All of the assets must be valued using the same method;

3. Interest accrued from last interest date to date of death is required to be added to the taxable estate in addition to the quoted value of bonds or similar obligations, except:

i. Interest accrued from the last interest date to the date of death is not included in the appraisal of the United States Savings Bonds Series "H."

ii. Government securities acceptable in payment of Federal estate taxes at par will be valued for New Jersey transfer inheritance tax purposes at their market value as of the date of a decedent's death in accordance with (a)1 above.

N.J. Admin. Code § 18:26-8.15

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