N.J. Admin. Code § 18:26-3B.9 - 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 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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