New York Codes, Rules and Regulations › Title 20 - DEPARTMENT OF TAXATION AND FINANCE › Chapter II - Income Taxes and Estate Taxes › Subchapter G - Estate Tax › Part 361 - Lien Of Tax › Section 361.1 - Releases of liens

Current through Register Vol. 46, No. 28, July 10, 2024
Under articles 10, 10-C and 26 of the Tax Law, the State
					 Tax Commission is authorized to issue releases of liens imposed by said
					 articles on real property of decedents. Such releases will be issued, upon
					 application therefor, in accordance with the following rules:
(a) Where an order has been entered exempting
				  an estate from the taxes imposed by article 10, 10-C or 26, a release will be
				  issued for any real property disclosed in the proceeding.
(b) Where an order has been entered assessing
				  a tax under article 10, 10-C or 26, a release will be issued for any real
				  property set forth in the return of the estate, provided the tax which is a
				  lien on such real property, together with interest thereon, is paid.
(c) Where a proceeding to assess a tax under
				  article 10, 10-C or 26 is pending at the time of the application, and an
				  adequate estimated payment on account of the tax has been made, a release will
				  be issued.
(d) Where no order
				  fixing the tax or exempting the estate has been entered, no proceeding is
				  pending and no estimated tax paid under article 10, 10-C or 26, the following
				  procedure should be followed:
(1) Where the
				  application is made by the executor, administrator, trustee, or beneficiary of
				  an estate, the application must be accompanied by an affidavit setting forth
				  the date of decedent's death, all the decedent's property subject to tax, the
				  allowable deductions, the persons interested in the estate and the amount of
				  the distributive share of each beneficiary. If it appears from such affidavit
				  that no tax is due, a release will be promptly issued but if it appears
				  therefrom that a tax is due, it must be paid before a release will be
				  issued.
(2) Where the application
				  is made by any other person, it must be accompanied by an affidavit setting
				  forth the relationship, directly or indirectly, of the applicant to the
				  decedent and to any person interested in the estate, and the reason the
				  applicant seeks the release. Such affidavit shall also set forth the date of
				  the decedent's death, all of decedent's property subject to tax, the allowable
				  deductions, the persons interested in the estate and the amount of the
				  distributive share of each beneficiary. In the event that any of the facts set
				  forth in the preceding sentence are not known and cannot reasonably be
				  ascertained, the affidavit should state the reason why such information cannot
				  be set forth. The affidavit should also outline the proceedings, if any, in the
				  Surrogate's Court in regard to the decedent's estate, the assessed value of the
				  real property for which a release is sought, (i) at the time of decedent's
				  death, and (ii) as shown on the last preceding assessment roll, and the names
				  of owners of such real property after the decedent's death, so far as they
				  appear upon the public records. A release will be issued dependent upon the
				  facts in each case upon such conditions as will not jeopardize the revenues of
				  the State.