In fact, about 6 percent of all returns relate to decedents who died before 1994. Therefore, users of this study should use caution in attempting to relate data to a particular estate tax law. Estate tax collections reflect payments received from several different years of Tax Law, and from several different years of decedents' death. For example, a significant amount of fiscal year 1997 estate tax payments came from estates that did not yet file a tax return as of the end of the 1997 fiscal year. In addition, estate tax collections include both audit revenue paid to the Department and refunds paid by the Department, relating to prior-year tax returns.
Many estates have taxable gifts upon which gift tax was previously paid.
Tax is then computed using the same rates and unified credit applicable for the estate tax. This report includes only estate tax returns, and therefore does not provide gift tax information. However, it does include information for gifts upon which gift tax was previously paid and includible in the decedent's estate. The following tables provide statistical information on estate tax returns processed during the 1996-97 State fiscal year.