18:26-3.1 Estates subject to tax

TRANSFER INHERITANCE AND ESTATE TAX  
SUBCHAPTER 3. ADDITIONAL TAX (NEW JERSEY ESTATE TAX)
N.J.A.C. 18:26-3.1 (2014)
§ 18:26-3.1 Estates subject to tax

   (a) In addition to the inheritance tax imposed upon the transfer of property of a decedent in this State, the estates of the following are subject to an estate tax:

1. All New Jersey residents dying after June 22, 1934; and,

2. All New Jersey residents dying after February 26, 1926, which are still in the process of settlement and subject to the jurisdiction of the probate courts of this State, except those estates where the inheritance tax due this State has been fully paid and all proceedings closed, or where the Federal estate tax has been fully paid and the time within which to claim the benefit of the credit for taxes paid to the State provided for in the Federal Revenue Act of 1926 expired prior to June 22, 1934, where the inheritance taxes paid to New Jersey, and other states, territories or the District of Columbia are not sufficient to fully absorb the credit allowed for payment thereof against any Federal estate tax payable to the United States.

(b) In a case where the aggregate of taxes paid this and any other states, District of Columbia, territories and possessions exceeds the amount of the allowable credit for state taxes under the Federal Estate Tax Law, no estate tax is due this State.

(c) The estate tax is not imposed upon the estates of nonresidents of New Jersey.