N.J. Admin. Code § 18:26-3A.10 - Payment; due date; interest; extension of time
(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 (except
returns filed using the Form 706 method, which are due nine months plus 30 days
following the death of the decedent) 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.
Notes
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