Transfer Inheritance Transfer Inheritance And Estate Tax instructions

Transfer Inheritance Transfer Inheritance And Estate Tax instructions

Inheritance Tax

Resident Return

(9-11)

INTRODUCTION

NEW JERSEY TRANSFER INHERITANCE TAX - ESTATE TAX

GENERAL

New Jersey has had a Transfer Inheritance Tax since 1892 when a 5% tax was imposed on property transferred from a decedent

to a beneficiary. Currently, the law imposes a graduated Transfer Inheritance Tax ranging from 11% to 16% on the transfer of real and

personal property with a value of $500.00 or more to certain beneficiaries.

The Transfer Inheritance Tax recognizes five beneficiary

classes, as follows:

Class “A” - Father, mother, grandparents, spouse/civil union

partner (after 2/19/07), domestic partner (after 7/10/04), child or

children of the decedent, adopted child or children of the decedent,

issue of any child or legally adopted child of the decedent, and stepchild

of the decedent.

Class “B” - Eliminated by statute effective July 1, 1963.

Class”C” - Brother or sister of the decedent, including half brother

and half sister, wife/civil union partner (after 2/19/07) or widow/

surviving civil union partner (after 2/19/07) of a son of the

decedent, or husband/civil union partner (after 2/19/07) or

widower/surviving civil union partner (after 2/19/07) of a daughter

of the decedent.

Class “D” - Every other transferee, distributee or beneficiary who

is not included in Classes “A”, “C” or “E”.

Class “E” - The State of New Jersey or any political subdivision

thereof, or any educational institution, church, hospital, orphan

asylum, public library or Bible and tract society or to, for the use of

or in trust for religious, charitable, benevolent, scientific, literary or

educational purposes, including any institution instructing the blind

in the use of dogs as guides, no part of the net earnings of which

inures to the benefit of any private stockholder or other individual

or corporation; provided, that the exemption does not extend to

transfers of property to such educational institutions and

organizations of other states, the District of Columbia, territories

and foreign countries which do not grant an equal, and like

exemption on transfers of property for the benefit of such

institutions and organizations of this State.

NOTES: If any beneficiary is claimed to be the mutually

acknowledged child of the decedent, said claim should be set forth

in the detailed manner prescribed under N.J.A.C. 18:26-2.6.

For the purposes of the New Jersey Transfer Inheritance Tax

an adopted child is accorded the same status as a natural child and,

therefore, his relations are treated in the same manner as those of a

natural child. (i.e. if the decedent’s adopted son marries/enters into

a civil union, his spouse/civil union partner is “the wife/civil union

partner of a son of the decedent” and therefore a class “C”

beneficiary).

The offspring of a biological parent conceived by the artificial

insemination of that parent who is a partner in a civil union is

presumed to be the child of the non-biological partner. In the

Matter of the Parentage of the Child of Kimberly Robinson, 383

N.J. Super. 165; 890 A.2d 1036 (Ch. Div. 2005) (Non-biological

parent of New York registered domestic partnership recognized in

New Jersey, presumed to be the biological parent of child

conceived by the other partner through artificial insemination

where the non-biological partner has "show[n] indicia of

commitment to be a spouse and to be a parent to the child.").

A devise of real property to a husband and wife/civil union

partner as “tenants by the entirety” provides each with a vested life

estate, the remainder being contingent. See N.J.A.C. 18:26-8.12.

The issue of stepchildren ARE Class “D” (NOT Class “A”)

beneficiaries.

The following ARE Class “D” (NOT Class “C”) beneficiaries:

stepbrother or stepsister of the decedent, husband/wife/civil union

partner/domestic partner or widow/widower/surviving civil union

partner/surviving domestic partner of a stepchild or mutually

acknowledged child of the decedent.

The fact that a beneficiary may be considered “nonprofit” by

the Internal Revenue Service does not necessarily mean that it

qualifies for exemption as a Class “E” beneficiary since the criteria

are different.

TAX RATES

Each class of beneficiary has its own separate tax rate. See the

Rate Schedule on Page 4.

EXEMPTIONS

1. The transfer of real and personal property in this State held by

a husband and wife/civil union couple as “tenants by the

entirety” to the surviving spouse/civil union partner is not

taxable for New Jersey Inheritance Tax purposes.

2. The transfer of intangible personal property such as stocks,

bonds, corporate securities, bank deposits and mortgages

owned by a nonresident decedent is not subject to the New

Jersey Inheritance Tax.

3. Any sum recovered under the New Jersey Death Act as

compensation for wrongful death of a decedent is not subject

to the New Jersey Inheritance Tax except as provided below:

a. Any sum recovered under the New Jersey Death Act

representing damages sustained by a decedent between the

date of injury and date of death, such as the expenses of

care, nursing, medical attendance, hospital and other

charges incident to the injury, including loss of earnings

and pain and suffering are to be included in the decedent’s

estate.

b. Where an action is instituted under the New Jersey Death

Act and terminates through the settlement by a compromise

payment without designating the amount to be paid under

each count, the amount which must be included in the

inheritance tax return is an amount, to the extent recovered,

which is equal to specific expenses related to the injury.

These expenses are similar to those mentioned in sections

a. above and include funeral expenses, hospitalization and

medical expenses, and other expenses incident to the injury.

Any amount which is recovered in excess of these expenses

is considered to be exempt from the tax.

4. The proceeds of any contract of insurance insuring the life of

a resident or nonresident decedent paid or payable, by reason

of the death of such decedent, to one or more named

beneficiaries other than the estate, executor or administrator of

such decedent are exempt for New Jersey Inheritance Tax

purposes.

Page 1

5. The transfer of property to a beneficiary or beneficiaries of a

trust created during the lifetime of a resident or nonresident

decedent, to the extent such property results from the proceeds

of any contract of insurance, insuring the life of such decedent

and paid or payable to a trustee or trustees of such decedent by

reason of the death of such decedent, is exempt from the New

Jersey Inheritance Tax irrespective of whether such

beneficiary or beneficiaries have a present, future, vested,

contingent or defeasible interest in such trust.

6. The transfer of life insurance proceeds insuring the life of a

resident or nonresident decedent, paid or payable by reason of

the death of such decedent to a trustee or trustees of a trust

created by such decedent during his lifetime for the benefit of

one or more beneficiaries irrespective of whether such

beneficiaries have a present, future, vested, contingent or

defeasible interest in such trust, is exempt from the New Jersey

Inheritance Tax.

7. The transfer, relinquishment, surrender or exercise at any time

or times by a resident or nonresident of this State, of any right

to nominate or change the beneficiary or beneficiaries of any

contract of insurance insuring the life of such resident or

nonresident, regardless of when such transfer, relinquishment,

surrender or exercise of such right occurred, is exempt from

the tax.

8. Any amount recovered (under the Federal Liability for Injuries

to Employees Act) for injuries to a decedent by the personal

representative for the benefit of the classes of beneficiaries

designated in that Statute, whether for the pecuniary loss

sustained by such beneficiaries as a result of the wrongful

death of the decedent or for the loss and suffering by the

decedent while he lived, or both is not subject to the

Inheritance Tax.

Any amount recovered by the legal representatives of any

decedent by reason of any war risk insurance certificate or

policy, either term or converted, or any adjusted service

certificate issued by the United States, whether received

directly from the United States or through any intervening

estate or estates, is exempt from the New Jersey Inheritance

Tax.

This exemption does not entitle any person to a refund of any

tax heretofore paid on the transfer of property of the nature

aforementioned; and does not extend to that part of the estate

of any decedent composed of property, when such property

was received by the decedent before death.

9. The proceeds of any pension, annuity, retirement allowance,

return of contributions or benefit payable by the Government

of the United States pursuant to the Civil Service Retirement

Act, Retired Serviceman’s Family Protection Plan and the

Survivor Benefit Plan to a beneficiary or beneficiaries other

than the estate or the executor or administrator of a decedent

are exempt.

10. All payments at death under the Teachers Pension and Annuity

Fund, the Public Employees’ Retirement System for New

Jersey , and the Police and Firemen’s Retirement System of

New Jersey, and such other State, county and municipal

systems as may have a tax exemption clause as broad as that

of the three major State systems aforementioned, whether such

payments either before or after retirement are made on death to

the employee’s estate or to his specifically designated

beneficiary, are exempt from the New Jersey Inheritance Tax.

The benefit payable under the supplementary annuity plan of

the State of New Jersey is not considered a benefit of the

Public Employee’s Retirement System and is taxable whether

paid to a designated beneficiary or to the estate.

The death benefits paid by the Social Security Administration

or railroad Retirement Board to the spouse of a decedent are

also exempt. For purposes of filing a return these amounts

need not be reported nor are they to be deducted from the

amount claimed as a deduction for funeral expenses.

In all other cases the death benefit involved should either be

reported as an asset of the estate or deducted from the amount

claimed for funeral expenses.

11. Other pensions. An exemption is provided for payments from

any pension, annuity, retirement allowance or return of

contributions, which is a direct result of the decedent’s

employment under a qualified plan as defined by section

401(a), (b), and (c) or 2039(c) of the Internal Revenue Code,

which is payable to a surviving spouse or domestic partner.

12. No Fault Insurance. The amount payable by reason of medical

expenses incurred as a result of personal injury to the decedent

should be reflected by reducing the amount claimed for

medical expenses as a result of the accident.

The amount payable at the death of an income producer as a

result of injuries sustained in an accident, which are paid to the

estate of the income producer, is reportable for taxation. In all

other instances this amount is exempt.

The amount paid at death to any person under the essential

services benefits section is exempt from taxation.

The claim for funeral expense is to be reduced by the amount

paid under the funeral expenses benefits section of the law.

SAFE DEPOSIT BOXES

Safe deposit boxes are no longer inventoried by the New

Jersey Division of Taxation. On September 30, 1992, the Division

issued a blanket release in the form of a letter from the Director,

Division of Taxation, to all banking institutions, safe deposit

companies, trust companies, and other institutions which serve as

custodians of safe deposit boxes. The contents of the boxes may be

released without inspection by the Division.

WHERE TO FILE

All returns except the L-8 are to be filed with the New Jersey

Division of Taxation, Individual Tax Audit Branch, Transfer

Inheritance and Estate Tax, 50 Barrack Street, PO Box 249,

Trenton, New Jersey 08695-0249.

WHEN TAX RETURNS ARE DUE

A Transfer Inheritance Tax Return must be filed and the tax

paid on the transfer of real and personal property within eight

months after the death of either:

A RESIDENT decedent for the transfer of real or tangible

personal property located in New Jersey or intangible personal

property wherever situated, or

ANONRESIDENT decedent for the transfer of real or tangible

personal property located in New Jersey. No tax is imposed on

nonresident decedents for real property located outside of New

Jersey and intangible personal property wherever situated.

Page 2

Page 3

IMPORTANT REMINDERS

• If the decedent died TESTATE you must supply a legible copy of the LAST WILL AND TESTAMENT, all CODICILS thereto and any

SEPARATE WRITINGS.

• A copy of the decedent’s last full year’s FEDERAL INCOME TAX RETURN is required.

• All returns, forms and correspondence must contain the decedent’s SOCIAL SECURITY NUMBER.

• PAYMENTS ON ACCOUNT may be made to avoid the accrual of interest. (Form IT-EP)

• If PAYMENTS are not made by CERTIFIED CHECK the issuance of waivers may be delayed.

• All CHECKS should be made payable to NJ INHERITANCE AND ESTATE TAX and sent to the New Jersey Division of Taxation, Individual

Tax Audit Branch, Transfer Inheritance and Estate Tax, 50 Barrack Street, PO Box 249, Trenton, NJ 08695-0249.

The return must be filed whenever any tax is due or a waiver

is needed. The tax is a lien on all property for fifteen years unless

paid sooner or secured by an acceptable bond. Interest accrues on

unpaid taxes at the rate of 10% per annum.

For EXEMPTIONS see the heading “EXCEPTIONS” below.

AMENDMENTS TO AN ORIGINAL RETURN

In the case of both resident and non-resident estates, any assets

and/or liabilities not disclosed in the original return and all

supplemental data requested by the Division is to be filed in

affidavit form and attested to by the duly authorized statutory

representative of the estate, next of kin, or beneficiary certifying in

detail a description of the asset, real or personal and/or the liability

and the reasons for failure to disclose same in the original return

and filed directly with the NJ Transfer Inheritance.

ESTATE TAX

In addition to the inheritance tax, the State of New Jersey

imposes an estate tax on the estate of certain resident decedents.

Even estates that are partially or fully exempt from the inheritance

tax may be subject to the New Jersey Estate Tax.

A New Jersey Estate Tax Return must be filed when the gross

estate plus adjusted taxable gifts as determined in accordance with

the provisions of the Internal Revenue Code in effect on December

31, 2001, exceeds $675,000.

The law requires that a copy of the Federal Estate Tax return

be filed with the Division within thirty days after the filing of the

original with the Federal Government. Also, the Division must be

supplied with copies of all communications from the Federal

Government making final changes or confirming, increasing or

decreasing the tax shown to be due. Instructions are contained in

form IT-Estate.

WAIVERS

Bank accounts, certificates of deposit etc., in the name of, or

belonging to a RESIDENT decedent, in financial institutions

located in this state, cannot be transferred without the written

consent of the Division of Taxation. This consent is referred to as

a WAIVER.

Stocks and bonds etc., in the name of, or belonging to a

RESIDENT decedent, of corporations organized under the laws of

this state are subject to the same waiver requirements.

Real property, located in New Jersey, in the name of, or

belonging to a RESIDENT or a NON-RESIDENT decedent is

subject to the same waiver requirements, however, real property

held by a husband and wife/civil union couple as “tenants by the

entirety” in the estate of the spouse/civil union partner dying first

need not be reported, regardless of the date of death and waivers are

not required.

A membership certificate or stock in a cooperative housing

corporation held in the name of the decedent and a surviving

spouse/civil union partner or domestic partner as joint tenants with

the right of survivorship is exempt, if it entitled them to use it as

their principal residence. However a waiver is required for this

transfer in the estate of a RESIDENT decedent.

Waivers are not required for automobiles, household goods,

personal effects, accrued wages or mortgages, but these items must

be reported in the return filed.

EXCEPTIONS

Notwithstanding the waiver provisions above any financial

institution may release up to 50% of any bank account, certificate

of deposit etc. to the survivor, in the case of a joint account, the

executor, administrator or other legal representative of a

RESIDENT decedent’s estate. This procedure is referred to as a

BLANKET WAIVER. This procedure is not available for the

transfer of stocks and bonds. For a detailed explanation see

N.J.A.C. 18:26-11.16.

A SELF EXECUTING WAIVER, FORM L-8, has been

created for Class “A” beneficiaries in the estates of RESIDENT

decedents.

Use of this form MAY eliminate the need to file a formal

Inheritance Tax return. Your attention is directed to the instructions

contained in the body of the L-8, a copy of which is included in this

booklet. (Not included in IT-R Schedule Booklet.)

This form is to be filed with the financial institution which will

then be authorized to release the subject asset without the necessity

of receiving a waiver from the Division. DO NOT file this form

with the Division.

A REQUEST FOR A REAL PROPERTY TAX WAIVER,

FORM L-9, has been created for Class “A” beneficiaries in the

estates of RESIDENT decedents. This form may be used in two

instances where property passes to class “A” beneficiaries.

Use of this form MAY eliminate the need to file a formal

Inheritance Tax Return. Your attention is directed to the

instructions contained in the body of the L-9.

This form is to be filed directly with the Branch. If the form

is in order the necessary waiver/waivers will be promptly issued.

NEITHER THE L-8 NOR THE L-9 may be used where it is

claimed that a relationship of mutually acknowledged child exists.

SCHEDULES

Transfer Inheritance

And Estate Tax

New Jersey Division of Taxation

PO Box 249

Trenton, New Jersey 08695-0249

(609) 292-5033

IT-R

Inheritance Tax

SCHEDULES

(9-11)

First $700,000 15%

Over $700,000 16%

CLASS “D” TRANSFEREES IN ESTATES OF DECEDENTS

DYING ON OR AFTER 3-29-62

If less than $500: no tax

If $500 or more: no exemption

CLASS “A” TRANSFEREES ARE ENTIRELY EXEMPT

IN ESTATES OF DECEDENTS DYING ON OR AFTER JULY 1, 1988

Page 4

Exempt

11%

13%

14%

16%

First $ 25,000

Next 1,075,000

Next 300,000

Next 300,000

Over 1,700,000

Class “C” TRANSFEREES IN ESTATES OF DECEDENTS

DYING ON OR AFTER 7/1/88

NEW JERSEY INHERITANCE AND ESTATE TAX:

RETURN PROCESSING INSTRUCTIONS

Follow these procedures to avoid delays in processing returns, waivers, and

refunds:

 DO NOT enclose returns in any kind of BINDER, SEALED FOLDER or

NOTEBOOK.

 DO NOT use STAPLES (especially extra-long staples) on the return.

o It is OK to use rubber bands or clips to keep the file together.

o Two-hole ATCO fasteners, along the TOP of the return, are also acceptable.

 DO NOT enclose DUPLICATE COPIES of returns or duplicates of other

documents.

o When filing both Inheritance and Estate Tax, include only ONE copy of the

will, trusts, income tax return, 706, appraisals, and any other attachments.

A few things to DO:

 STAPLE checks to the completed payment voucher, and put voucher on

TOP.

o Make sure checks are signed, and made payable to “New Jersey Inheritance

and Estate Tax”

o Include the Decedent’s name and SS# on the check.

 Place the return and schedules on top (if no payment), with the will and

other supporting documents beneath.

 Check that returns are SIGNED by the legal representative of the estate

and NOTARIZED.

o The representative’s name should be printed clearly beneath the signature

 VERIFY the decedent’s social security number and date of death.

 Make sure the MAILING ADDRESS on the return is correct – and

indicates the person who you want to receive ALL correspondence

(letters, bills, waivers, etc).

o The Division cannot correspond with your attorney or CPA unless they are

listed on the front page of the return.

 Clearly mark amended returns as “Amended” along the

BOTTOM of the return.

 File Inheritance Tax and Estate Tax returns together when

possible.

o Keep the two returns separate within the same envelope or box.

o Keep in mind the two taxes have separate due dates for payment of the tax.

o Include separate checks and vouchers for each tax.

This page intentionally left blank.

Affiant says, under penalty of perjury, “I declare that I have examined this return and all accompanying schedules and to the best of my knowledge and belief, it is true, correct

and complete.” I hereby authorize the party(s) set forth above to act as the estate’s representative, to receive confidential information, and to make presentations on behalf

of the estate.

Subscribed and sworn before me

this _____________________ day of ____________________________, ______.

__________________________________________________________________

Official Title (Notarized)

THIS FORM MAY BE REPRODUCED

STATE OF NEW JERSEY

Inheritance Tax Return

RESIDENT DECEDENT

(Instructions on reverse side)

IT-R (9-11)

(67) For Division Use Only

Transfer Inheritance Tax

PO Box 249

Trenton, NJ 08695-0249

Decedent’s Name________________________________________________________ Decedent’s S.S. No. ____________/__________/____________

(Last) (First) (Middle)

Date of Death (mm/dd/yy) _________/_______/_________ County of Residence _______________________________ Testate  Intestate

Name _______________________________________________ Daytime Phone ( ) _______________________

Street ___________________________________________________________________________________________

City _____________________________________________ State ________________ Zip Code _________________

Authorized Representative

to receive all

correspondence

1. Real Property . . . . . . . . . . . . . . . . Total carried forward from - Schedule A . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.

2. Closely Held “Businesses” . . . . . . Total carried forward from - Schedule B . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2.

3. All Other Personal Property . . . . . Total carried forward from - Schedule B(1) Recapitulation . . . . . . . . . . . . . . . 3.

4. Transfers . . . . . . . . . . . . . . . . . . . . Total carried forward from - Schedule C . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4.

5. Gross Estate . . . . . . . . . . . . . . . . . Total Lines 1 thru 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5.

6. Deductions . . . . . . . . . . . . . . . . . . Total carried forward from - Schedule D . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6.

7. Net Estate . . . . . . . . . . . . . . . . . . . Total - Line 5, minus Line 6 (If less than zero enter “0”) . . . . . . . . . . . . . . . . . 7.

8. Contingent Amount Included in Line 7 (See explanation on reverse side) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8.

9. Balance of Estate (Line 7, minus Line 8) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.

Number of

Class Beneficiaries Total Exempt Taxable

10. A (Spouse/Civil

Union Partner)_________ $________________/____ $________________/____ $________________/____ 10.

11. A (Other) __________ $________________/____ $________________/____ $________________/____ 11.

12. C __________ $________________/____ $________________/____ $________________/____ 12.

13. D __________ $________________/____ $________________/____ $________________/____ 13.

14. E __________ $________________/____ $________________/____ $________________/____ 14.

15. Compromise Tax Due on Line 8 Amount (See explanation on reverse side) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15.

16. Contingent Tax (See explanation on reverse side) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16.

17. Total Tax Due (Total - Line 10 thru Line 16) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17.

18. Interest Due (If applicable) (See explanation on reverse side) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18.

19. Total Amount Due (Line 17, Plus Line 18) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19.

20. Payment on Account (If applicable) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20.

21. If Line 20 (Payments) is LESS THAN Line 19, Enter BALANCE DUE - 21.

22. If Line 20 (Payments) is MORE THAN Line 19, Enter REFUND AMOUNT . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22.

23. Are any questions in Schedule “C” answered yes? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23. Yes  No

24. Have or will you file or are you required to file a Federal Estate Tax Return? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 24. Yes  No

25. Has or will any disclaimer been filed? If so, attach copy . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25. Yes  No

26. If the decedent died after December 31, 2001, did the decedent’s taxable estate plus adjusted taxable gifts for

Federal estate tax purposes under the provision of the Internal Revenue Code in effect on December 31, 2001

exceed $675,000? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26. Yes  No

If yes, by how much $ ______________________.

Indicate which letters were issued and where issued:

Letters of Administration  Letters Testamentary  State of __________ County of _____________________

SUBMIT A FULL COPY OF THE DECEDENT’S WILL, CODICILS, TRUSTS, AND A COPY OF

THE LAST FULL YEAR’S FEDERAL INCOME TAX RETURN.

Signature: _____________________________________________________________________

(Executor - Administrator - Heir-at-law)

Print Name: _____________________________________________________________________

Address _____________________________________________________________________

_____________________________________________________________________

TAX

PAY THIS AMOUNT

WITH FORM IT-PMT

Lines 8, 15 and 16

In the case of a transfer or transfers made subject to a

contingency or condition which renders a definite determination of

the Transfer Inheritance Tax due impossible, the Division will

suggest a compromise of the tax based upon immediate payment

and final disposition of the tax. N.J.A.C. 18:26-2.14, N.J.S.A.

54:36-5 AND 54:36-6.

Therefore, enter on Line 8, the amount of the estate that is

“Contingent.”

In the event you wish to compute a compromise for the

Division’s review, you should include a rider setting forth full

computations and details and enter the proposed amount on Line

15. Following this procedure may speed the auditing of the

decedent’s return.

Be advised that where all or any portion of the contingent

amount has vested in a beneficiary by reason of the happening of

any contingency event, full details should be set forth on a rider,

the tax computed on a rider and entered on Line 16.

Line 18

Interest accrues at the rate of 10% per annum on any direct

tax or portion thereof not paid within eight months of the

decedent’s death.

With respect to the payment of the tax due on an executory

devise, or a transfer subject to a contingency or power of

appointment, any payment on such a transfer after the expiration

of two months from the date the contingency occurs or the

property vests, shall bear interest at the rate of 10% per annum

from the date the contingency occurs or the property vests, until

the date of actual payment.

In any case where a contingent remainder vests in beneficial

possession and enjoyment subsequent to the death of the original

decedent, but prior to the expiration of the statutory interest

period, interest on the contingent tax does not start to accrue until

eight months from the date of death of the original decedent.

Line 20

Payments on account may be made at any time to avoid

further accrual of interest on the amount paid. In any case where

the amount paid on account for New Jersey inheritance taxes

exceeds the amount of such tax due after final assessment has

been made, the amount so overpaid shall be refunded by the

State Treasurer in the due course of business, provided, however,

that all applications for a full or partial refund of the payment of the

transfer inheritance tax shall be made within three years from the

date of such payment. Make checks payable to: NJ Inheritance

and Estate Tax, P.O. Box 249, Trenton, New Jersey 08695-0249.

Line 21

When making a payment with the return, complete form ITPMT

and attach check.

INSTRUCTIONS FOR RECITAL PAGE

Examples of Interest Computations

Date of Death . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5-28-90

Interest Date (eight months) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1-28-91

Tax Assessed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $7,120.48

Interest @ 10% per annum from 1-28-91 to 9-19-91 ($7,120.48 x 10% x 234/365) . . . . . . . . . . . . . . . . . . 456.49

Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,576.97

Payment on Account (9-19-91) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (7,120.48)

Balance Due (plus interest @ 10% per annum from 9-19-91 to date of final payment) . . . . . . . . . . . . . . . . 456.49

Date of Death . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8-29-90

Interest Date (eight months) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4-29-91

Tax Assessed . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $68,389.70

Payment of Account (4-19-91) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (16,974.56)

Balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 51,415.14

Payment on Account (4-28-91) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (31,927.02)

Balance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,488.12

Interest @ 10% per annum from 4-29-91 to 5-10-91 ($19,488.12 x 10% x 11/365) . . . . . . . . . . . . . . . . . 58.73

Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19,546.85

Payment on Account (5-10-91) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (27,048.67)

Overpayment (to be refunded) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7,501.82

IT-R Page 2

AMOUNT PAID WITH RETURN (From IT-R Line 21)

(Code 67) 1. Inheritance Tax (total of checks remitted with this form) . . . . . . . . . . . . . $______________________________

Payments on account may be made at any time to avoid further accrual of interest on the amount so paid. All applications

for the refund of an overpayment must be made in writing within the three year statutory period in accordance with and in

the manner set forth in N.J.A.C. 18:26-3A.12 (Estate Tax) and N.J.A.C. 18:26-10.12 (Inheritance Tax).

Make checks payable to “NJ Inheritance and Estate Tax”, PO Box 249, Trenton, NJ 08695-0249

(include decedent’s name and social security number on check)

STATE OF NEW JERSEY

DIVISION OF TAXATION

INHERITANCE AND ESTATE TAX

Inheritance Tax Payment

IT-PMT (10-11) For Division Use Only

Transfer Inheritance Tax

PO Box 249

Trenton, NJ 08695-0249

Decedent’s Name__________________________________________________________________________

(Last) (First) (Middle)

Decedent’s S.S. No. _____________/________/_____________

Date of Death (mm/dd/yy) _________/_______/_________ County of Residence _______________________________

FOR USE ONLY WHEN FILING IT-R RETURN. FOR OTHER PAYMENTS, USE FORM IT-EP.

ATTACH CHECKS HERE

If remitting more than one check, list each check individually below:

$

$

$

$

$

$

$

$

$

$

TOTAL of all checks (Enter on Line 1 above) $

This page intentionally left blank.

SCHEDULE “A” REAL PROPERTY

RESIDENT DECEDENT

(See Instructions on reverse side)

_______________________________________________________ ____________/____________/____________

Decedent’s Name Decedent’s Social Security Number

Description of New Jersey Full Assessed Value Full Market Value Value of Decedent’s This Column

Real Estate for at Interest and for

Year of Death Date of Death (How Determined) Division Use

Insert this total on page 1, line 1 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(If additional space is required, attach riders of the same size)

1. Street and Number

Municipality:

Lot: Block:

County:

Title/Owner of Record:

2. Street and Number

Municipality:

Lot: Block:

County:

Title/Owner of Record:

3. Street and Number

Municipality:

Lot: Block:

County:

Title/Owner of Record:

4. Street and Number

Municipality:

Lot: Block:

County:

Title/Owner of Record:

INSTRUCTIONS FOR SCHEDULE “A”

Only list real property situated in New Jersey

DESCRIPTION: The real property should, wherever possible, be described by lot and block number, or street

and street number, or by a general description, with a reference to a record of the deed by which title was conveyed.

MORTGAGES: List as deduction(s) in Schedule D.

FRACTIONAL INTEREST: If the decedent owned a fractional interest, state the names in which the realty

was held, whether as joint tenants with right of survivorship or as tenants in common, and set forth in detail how the

interest was acquired. Submit a copy of the deed.

TENANTS BY THE ENTIRETY: Real property held by husband and wife/civil union partners, as “tenants

by the entirety” in the estate of the spouse/civil union partner dying first need not be reported.

OTHER LIENS: Taxes, assessments, accrued interest on mortgages, etc. must not be claimed in this schedule

but are to be listed on Schedule “D” of this return.

WAIVERS: Unpaid inheritance taxes constitute a lien on real property and waivers are therefore required to

transfer said real property, with the exception of real property held by husband and wife/civil union partners as

“tenants by the entirety” in the estate of the spouse/civil union partner dying first.

CO-OPS: A membership certificate or stock in a New Jersey cooperative housing corporation held in the name

of the decedent and a surviving spouse/civil union partner or domestic partner as joint tenants with the right of

survivorship is exempt, if it entitled them to use it as their principal residence. However a waiver is required for this

transfer in the estate of a resident decedent. (This should be reported on Schedule “B(1)-Stock”).

CONDOMINIUMS: An interest in a condominium is an interest in Real Property and therefore reportable on

Schedule “A”.

APPRAISALS: Submit a copy of any appraisal, contract of sale and/or closing statement. Only recital or

valuation page of appraisals are initially required. Additional supporting documentation will be requested if needed.

SCHEDULE “B” CLOSELY HELD “BUSINESSES”

RESIDENT DECEDENT

(See Instructions on reverse side)

_______________________________________________________ ____________/____________/____________

Decedent’s Name Decedent’s Social Security Number

Name and Federal Identification Number of Any Sole

Proprietorship, Partnership, Joint Venture and/or Closely Held Market Value This Column for

Corporation in Which the Decedent Held Any Interest at Date of Death Division Use

Insert this total on page 1, line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(If additional space is required, attach riders of the same size)

1.

2.

3.

4.

INSTRUCTIONS FOR SCHEDULE “B”

If the taxpayer had any interest in a closely held corporation, partnership, joint venture or sole proprietorship,

the following information is required (in each instance):

1. A detailed balance sheet and profit and loss statement, revised to reflect the market value of the assets

thereof as distinguished from the net book value, as of the decedent’s date of death, or as near thereto as

the Director may deem acceptable.

2. For the five year period preceding the decedent’s date of death;

A. Detailed balance sheets.

B. Detailed profit and loss statements.

3. The nature of the business.

4. Describe and state the assessed and market value of any real property.

5. Set forth your basis for determining the clear market value as reported.

CLOSELY HELD CORPORATIONS

If the decedent had any interest in a closely held corporation, submit (in addition to the general information

required above):

1. For the five year period preceding the decedent’s date of death:

A. A listing of salaries paid to officers.

B. A listing of dividends paid, together with the name(s) of the payees.

2. Copy/copies of any stock purchase or option agreement to which the decedent was a party as of the date of

death.

3. Copy/copies of any insurance policy/policies on the decedent’s life payable to the corporation as

beneficiary together with a statement of the benefits payable thereunder.

4. The number of shares of stock of all classes issued and outstanding and the par value thereof.

5. List of stockholders setting forth the number of shares held by each.

PARTNERSHIPS OR JOINT VENTURES

If the decedent had any interest in a partnership or joint venture, submit (in addition to the general information

required above):

1. Copy of the partnership agreement.

2. Copy/copies of any mutual purchase agreement(s) to which the decedent was a party at the date of death.

3. Copy/copies of any insurance policy/policies on the decedent’s life payable to the surviving partners as

beneficiary together with a statement of the benefits payable thereunder.

SOLE PROPRIETORSHIPS

If the decedent had any interest in a sole proprietorship, submit (in addition to the general information required

above):

1. If any of the sole proprietorship’s assets are listed elsewhere on this return, (i.e. Schedule “A”), make full

disclosure.

1) SCHEDULE B-1: BANK ACCOUNTS/BROKERAGE ACCOUNTS

2) SCHEDULE B-1: STOCK

3) SCHEDULE B-1: INVESTMENT BONDS

4) SCHEDULE B-1: ALL OTHER PROPERTY

TOTAL LINES 1-4

Insert this total on Page 1, Line 3 “All Other Personal Property”

SCHEDULE “B (1)” RECAPITULATION - ALL OTHER PERSONAL PROPERTY

RESIDENT DECEDENT

(See Instructions Below)

_______________________________________________________ ____________/____________/____________

Decedent’s Name Decedent’s Social Security Number

BRING FORWARD TOTALS FROM EACH OF THE FOLLOWING SCHEDULES:

GENERAL INSTRUCTIONS FOR SCHEDULE “B (1)”

List all other personal property (excluding that on Schedule B) including all tangible personal property located permanently

in New Jersey.

These schedules must disclose not only all other personal property owned individually by the decedent but also all other

personal property standing in joint names (such as United States Savings Bonds, bank accounts, shares of stock, etc.) which may

be claimed by another or others as survivors.

Unless the surviving joint tenant is also a Class A beneficiary (see General Instructions), the transfer of ownership to a

surviving joint tenant or tenants pursuant to a joint tenancy with the right of survivorship is a transfer subject to tax. The deceased

joint tenant is deemed to have been the absolute owner of the property and the survivor/survivors are presumed to have received

a devise or bequest of the whole and not a part of the property. This presumption can be rebutted to the extent that the survivor

can prove contributions out of funds separate and apart from those that originated in the decedent. All joint assets including those

passing to exempt beneficiaries and those claimed not to have belonged to the decedent must be listed, with full market value as

of date of death.

These schedules must list all other intangible personal property such as, but not limited to, United States Savings Bonds;

treasury certificates; cash on hand; cash in the bank; deposits in Federal or State Credit Unions; mutual funds; bonds and

mortgages; promissory notes; claims; accounts receivables; corporate bonds; corporate stocks; accrued interest; dividends; salaries

or wages; insurance payable to the estate or its representatives; interest in any undistributed estate or income from any property

held in trust under the will or agreement of another, even though physically located outside the state at the time of death.

Waivers are not required for automobiles, household goods, accrued wages or mortgages, but these items must be reported on

Schedule B-1 “All Other Property”.

A membership certificate or stock in a New Jersey housing corporation held in the name of the decedent and a surviving

spouse/civil union partner or domestic partner as joint tenants with the right of survivorship is exempt, if it entitled them to use it

as their principal residence; however, a waiver is required for this transfer in the estate of a resident decedent.

This schedule may include checking accounts, savings accounts, money markets, credit unions, CD’s, brokerage accounts,

mutual funds, and IRA’s.

(A) Include the name of each bank or institution on which decedent’s name appears.

1) State all names registered on each account, along with account number of each.

2) Multiple accounts in one bank may be grouped together, but each account must be listed separately.

(B) Report the full date of death balance of each account in “Date of Death Value” column.

1) BROKERAGE ACCOUNTS require account totals only on this schedule.

2) Brokerage statements must be included with the return.

(C) List decedent’s equity in account (If 100% , amount will be the same as (B).)

1) Claims for partial ownership must be supported in supplemental affidavits.

(B)

Date of Death Value

(C)

Decedent’s Equity Division Use Only

(A)

Bank Accounts - Individually or Jointly Owned

SCHEDULE B (1) - BANK ACCOUNTS/BROKERAGE ACCOUNTS

RESIDENT DECEDENT

_______________________________________________________ ____________/____________/____________

Decedent’s Name Decedent’s Social Security Number

Insert this total on SCHEDULE B-1 Recapitulation, Line 1 . . . . . . . . . . . . . . . . . . . . . . . . . .

(If additional space is required, attach riders of the same size. All forms may be reproduced)

(A) Report the number of shares owned of each stock.

(B) List the name of the company and all names registered on each stock.

(C) List the state of registration for each corporation (ie., NJ, DE, MD, etc.), if known.

(D) Report the per-share market value of each stock as of the date of death.

(E) Full market value of all shares (number of shares x per share value).

(F) Total value of decedent’s equity (Claims for partial ownership must be supported in supplemental affidavits).

(List accrued dividends as of date of death along with each item.)

(B)

Name of Stock - Registered Owner(s)

(D)

Date of Death Per

Share Value

(E)

Total Market Value

(C)

State of Inc.

(F)

Decedent’s Equity Division Use Only

(A)

Number of

Shares

SCHEDULE B (1) - STOCK

RESIDENT DECEDENT

DO NOT INCLUDE STOCK HELD IN A BROKERAGE ACCOUNT ON THIS SCHEDULE

_______________________________________________________ ____________/____________/____________

Decedent’s Name Decedent’s Social Security Number

Insert this total on SCHEDULE B-1 Recapitulation, Line 2 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(If additional space is required, attach riders of the same size. All forms may be reproduced)

(A) Provide name of company or entity holding bond and all terms of bond.

1) List all names registered on each bond.

(B) Report full date of death value of bonds.

1) Include accrued dividends as of date of death.

(C) List decedent’s equity in bond (If 100% , amount will be the same as (B)).

Note: U.S. Savings Bonds should be listed on Schedule B-1 “All Other Property”.

(B)

Date of Death Value

(C)

Decedent’s Equity Division Use Only

(A)

Bonds - Individually or Jointly Owned

SCHEDULE B (1) - MUNICIPAL & CORPORATE BONDS

RESIDENT DECEDENT

DO NOT INCLUDE BONDS HELD IN A BROKERAGE ACCOUNT ON THIS SCHEDULE

_______________________________________________________ ____________/____________/____________

Decedent’s Name Decedent’s Social Security Number

Insert this total on SCHEDULE B-1 Recapitulation, Line 3 . . . . . . . . . . . . . . . . . . . . . . . . . .

(If additional space is required, attach riders of the same size. All forms may be reproduced)

List all other property owned by the decedent, including (but not limited to):

U.S. Obligations (Savings Bonds or Treasury Certificates)

Automobiles or other vehicles

Personal property, collections, furniture, etc.

Mortgages and notes owned by decedent

Cash and uncashed checks

Interest in a prior estate

Accounts receivable

Other Property - Individually or Jointly Owned Date of Death Value Division Use Only

SCHEDULE B (1) - ALL OTHER PROPERTY

RESIDENT DECEDENT

_______________________________________________________ ____________/____________/____________

Decedent’s Name Decedent’s Social Security Number

Insert this total on SCHEDULE B-1 Recapitulation, Line 4 . . . . . . . . . . . . . .

(If additional space is required, attach riders of the same size. All forms may be reproduced)

SCHEDULE “C” TRANSFERS

RESIDENT DECEDENT

_______________________________________________________ ____________/____________/____________

Decedent’s Name Decedent’s Social Security Number

Insert this total on page 1, line 4 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(If additional space is required, attach riders of the same size)

(ALL QUESTIONS MUST BE ANSWERED)

1. Did decedent, within three years of death, transfer property, valued at $500.00 or more, without receiving

full financial consideration therefor? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  Yes  No

2. Did decedent, at any time, transfer property, reserving (in whole or in part) the use, possession, income,

or enjoyment of such property? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  Yes  No

3. Did decedent, at any time, transfer property on terms requiring payment of income to decedent from a

source other than such property? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  Yes  No

4. Did decedent, at any time, transfer property, the beneficial enjoyment of which was subject to change

because of a reserved power to alter, amend, or revoke, or which could revert to decedent under terms

of transfer or by operation of law? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  Yes  No

If answer to any of the above questions is “Yes”, set forth a description of property transferred, the

fair market value at date of death, dates of transfers, and to whom transferred. Submit copy of trust

deed or, agreement, if any. (If transfers are claimed to be untaxable, also submit detailed statement

of facts on which such claim is based, proof as to decedent’s physical condition and copy of death

certificate.)

5. Was decedent a participant in any pension plan that provided for payment of an annuity or lump sum on

or after death to another? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  Yes  No

6. Did decedent purchase or in any manner participate in any contract or plan providing for payment of an

annuity or lump sum on or after death to another, except life insurance contracts payable to a designated

beneficiary? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  Yes  No

(Matured endowment policies, claim settlement certificates, supplementary contracts, annuity contracts

and refunds thereunder and interest income certificates even though issued by an insurance company are

not considered life insurance contracts.)

7. Was a single premium life insurance policy issued on decedent’s life in conjunction with an annuity

contract? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .  Yes  No

If answer to questions 5, 6 or 7 is “Yes” attach photostatic copies of all such contracts, plans, and policies.

8. Were any accumulated dividends due on any contract of insurance? (If yes, list below) . . . . . . . . . . . . . . . . .  Yes  No

Date of Transfer; Description of Property, Both Real and Personal:

Actual Consideration if Any; Names and Relationship to Market Value This Column for

Decedent of Donees, Assignees, Transferees, etc. at Date of Death Division Use

1.

Name: Estimated Expenses for:

______________________________________________  Funeral . . . . . . . . . . . . . . . . . . . . . . . . .

Administration . . . . . . . . . . . . . . . . . . . .

Name: Counsel Fees:

______________________________________________ Agreed Upon . . . . . . . . . . . . . . . . . . . . .

Estimated . . . . . . . . . . . . . . . . . . . . . . . .

Names: Executor’s or Administrator’s Commissions

(Must not be claimed unless reported for

_______________________________________________ Income Tax purposes.)

SS# ______________/______________/______________

_______________________________________________

SS# ______________/______________/______________

List Mortgages Here:

Other Deductions (list individually)

SCHEDULE “D” DEDUCTIONS CLAIMED

RESIDENT DECEDENT

(See Instructions on reverse side)

_______________________________________________________ ____________/____________/____________

Decedent’s Name Decedent’s Social Security Number

Insert this total on page 1, line 6 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

(If additional space is required, attach riders of the same size)

Debt or Claim of Nature of Same Amount This Column for

Division Use

INSTRUCTIONS FOR SCHEDULE “D”

If any notes, brokerage accounts or other claims are secured by collateral, describe the collateral pledged, with

its value as of the date of death of the decedent and state whether or not said collateral is included among the assets

disclosed in Schedule B or B(1). If collateral is not pledged, state after each loan “No collateral pledged”.

NOTE: No debt or claim is to be listed in this schedule unless still owing and unpaid at the time of death and unless

such debt or claim is to be paid out of the assets of the estate.

(EXAMPLE: That portion of medical bills paid or reimbursed by Medicare or other medical insurance

should not be claimed on this schedule).

Contested claims must be explained in detail. Do not list any taxes, either real, personal or income, chargeable

for any period subsequent to date of death; nor any claim against property located outside of New Jersey, unless such

property is subject to tax in this state.

The estate agrees to advise the Division if the amount actually paid in settlement of any fee, commission or debt

is greater or less than the estimated amount allowed and further agrees to the correction of the assessment, if

necessary.

For mortgages list the balance on the decedent's date of death and the property in Schedule A on which the

mortgage is an encumbrance. Each mortgage must be listed separately. State whether there was any mortgage

insurance and, if so, submit verification as to the amount of same. Note: In the case of realty held by a decedent

and a surviving spouse/civil union partner as tenants by the entirety, the amount of any mortgage owing on such

realty at the decedent’s death is not allowable as a deduction since such property is exempt from the Inheritance Tax.

FUNERAL EXPENSES:

Cemetery Plot (immediate family)

Funeral Luncheon

Flowers

Minister/Rabbi/Priest/Imam

Monument/Lettering

Funeral Costs

Acknowledgments

ADMINISTRATION EXPENSES:

Appraisal of real estate

Appraisal of personal effects

Surrogate’s fees

Probate expenses

Fee to notify creditors

Death certificates

Telephone tolls

Cost of Executor’s or Administrator’s Bond

Collection costs

Court costs

Cost on recovery and/or discovery of assets

Realty commissions in accordance with

N.J.A.C. 18:26-7.12

Storage of property if delivery to legatee not possible

within reasonable time

DEBTS OF DECEDENT OWING and

UNPAID AT TIME OF DEATH:

Personal accounts

Judgments

Federal income and gift taxes generally

Unpaid mortgage principal and interest on the decedent’s

date of death:

Charitable pledges

State, county and local taxes accrued before death

Unpaid Inheritance Tax on interrelated estate

Contingent liabilities

Debts paid by insurance

Medical expenses paid prior to death

Liabilities of corporation of which decedent was a

shareholder

Real estate and property maintenance costs

Storage expense

State, county and local taxes accruing after date of death

Transfer Inheritance Tax

Real estate brokers commissions, except if real property sold

during administration of estate

Debts on property located outside of New Jersey

Federal Estate Tax

Examples of Allowable Deductions

Examples of Non-Allowable Deductions

Age At

Death of

Decedent

NAME DATE OF DEATH DOMICILE AT DEATH

SCHEDULE “E” BENEFICIARIES

RESIDENT DECEDENT

ATTACH COPY OF WILLAND CODICILS HERE

_______________________________________________________ ____________/____________/____________

Decedent’s Name Decedent’s Social Security Number

In case of Intestacy, the parentage of all collateral heirs (such as nieces, nephews, cousins, etc.) must be set forth. The relationship of step-parent,

step-child, step-brother or step-sister must be so stated.

BENEFICIARIES AND ADDRESSES

(State full names and addresses of all who have an

interest, vested, contingent or otherwise, in estate)

Under authority of Federal law, the Division of Taxation of the Department of the Treasury of the State of New Jersey and the Internal Revenue

Service have entered into a Federal/State Agreement for the mutual exchange of tax information for purpose of tax administration.

Deponent further says the following schedule contains the names of all beneficiaries who died before or after decedent’s death:

Relationship

Interest of

Beneficiary

In Estate

Survived

Decedent

State

Yes or No

Class

DID YOU REMEMBER TO:

1. Attach a copy of the decedent’s will, codicils, trusts, and last full year’s Federal

Income Tax Return.

2. Fill-in the decedent’s social security number.

3. Sign the return and have it notarized.

FAILURE TO DO ANY OF THE ABOVE

MAY RESULT IN PROCESSING DELAYS

All checks should be made payable to N.J. Inheritance and Estate Tax and mailed to:

N.J. Division of Taxation

Individual Tax Audit Branch

Transfer Inheritance and Estate Tax

PO Box 249

Trenton, New Jersey 08695-0249

For information regarding the N.J. Transfer Inheritance and Estate Taxes call:

(609) 292-5033