18:26-5.19 Annuity contracts
(a) Annuity contracts purchased by or vested in a decedent and made payable by him to another at or after his death are subject to the New Jersey Inheritance Tax.
(b) Annuity payable under certain trusts and plans which are exempt under Section 2039(c) of the Internal Revenue Code of 1954 may not be exempt for New Jersey Inheritance Tax purposes. The treatment to be accorded payments made under such trusts and plans depends upon the facts and circumstances which exist in each case. (See N.J.A.C. 18:26-6.16.)
(a) Annuity contracts purchased by or vested in a decedent and made payable by him to another at or after his death are subject to the New Jersey Inheritance Tax.
(b) Annuity payable under certain trusts and plans which are exempt under Section 2039(c) of the Internal Revenue Code of 1954 may not be exempt for New Jersey Inheritance Tax purposes. The treatment to be accorded payments made under such trusts and plans depends upon the facts and circumstances which exist in each case. (See N.J.A.C. 18:26-6.16.)
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