N.J. Admin. Code § 18:26-2.1

Current through Register Vol. 56, No. 8, April 15, 2024

Section 18:26-2.1 - Nature of tax

(a) The Act imposes a tax upon transfers of the value of $ 500.00 or over, or of any interest thereon or income therefrom, held in trust or otherwise, to or for the use of any transferee, as set forth under N.J.S.A. 54:34-1, including, but not limited to, the following:

1. In the case of a resident decedent, where such transfers consist of real or tangible personal property situated in this State or intangible personal property wherever situated, owned by such decedent; and

2. In the case of a nonresident decedent, where such transfers consist of real or tangible personal property owned by such decedent situated in this State at the time of death.

N.J. Admin. Code § 18:26-2.1

Adopted by 50 N.J.R. 1624(a), effective 7/16/2018