New Jersey Administrative Code › Title 18 - TREASURY - TAXATION › Chapter 26 - TRANSFER INHERITANCE AND ESTATE TAX › Subchapter 3B - ESTATE TAX-DECEDENTS DYING AFTER DECEMBER 31, 2016, BUT BEFORE JANUARY 1, 2018 › Section 18:26-3B.9 - Payment; due date; interest; extension of time

Current through Register Vol. 56, No. 14, July 15, 2024
(a)
				The New Jersey estate tax is due at the date of a decedent's death. However, if
				payment is made within nine months from the date of death, no interest or late
				penalty will be imposed.
(b) All or any
				part of the estate tax due this State, if not paid within nine months from the date
				of death, will bear interest at the rate of 10 percent per annum from the expiration
				of the said nine months until the date of actual payment, unless an extension of
				time to file the Federal estate tax return is granted, in which case the Director
				may reduce the interest rate to six percent per annum until the expiration of the
				extension. If the decedent was a member of the United States armed forces, the
				estate tax will not bear interest until the expiration of nine months after receipt
				of official notification of the decedent's death by the decedent's husband, wife,
				civil union partner, father, mother, or next of kin. The Director may, for cause
				shown, extend the time for payment with interest at the rate of 10 percent per
				annum, for such period as the circumstances, in the Director's discretion, may
				require. In those cases where a Federal estate tax return is not required to be
				filed and where an extension of time to file the Federal estate tax return is not
				requested, the Director may reduce the interest rate to six percent per annum for
				the period until the expiration of any extension of time requested and granted for
				the filing of the New Jersey estate tax return. The request must be filed on or
				before the due date of the return.
(c)
				All administrators, executors, trustees, grantees, donees, and buyers are personally
				liable for any and all estate tax until paid, for which an action at law will lie in
				the name of the State.
(d) New Jersey
				estate tax returns must be filed within nine months following the death of the
				decedent. The Director may grant an extension of time in which a return may be
				filed. The estate representative may request an extension of time to file the New
				Jersey estate tax return for a period of six months beyond the original due date.
				Extensions beyond six months from the original due date of the return will be
				granted only in cases where the Director determines that exceptional circumstances
				exist. This subsection provides the authority only for an extension of time to file
				the tax return, and does not extend the time to pay the tax. The tax liability is
				due on the decedent's date of death and must be paid in full within nine
				months.
(e) Where interest has accrued
				at the time of any payment, such payment is first credited in satisfaction of the
				accrued interest and the excess credited in payment of the tax chargeable. Interest
				continues to accrue on any remaining balance from the date of said payment to the
				date of final adjustment.