N.J. Admin. Code § 18:26-5.19

Current through Register Vol. 56, No. 7, April 1, 2024

Section 18:26-5.19 - Annuity contracts

(a) Annuity contracts purchased by or vested in a decedent and made payable by him or her to another person at or after his or her death are subject to the New Jersey transfer inheritance tax.

(b) Annuities payable under certain trusts and plans that are exempt under Section 2039(c) of the Internal Revenue Code of 1954 may not be exempt for New Jersey transfer inheritance tax purposes. The treatment to be accorded payments made under such trusts and plans depends upon the facts and circumstances that exist in each case (See N.J.S.A. 54:34-4.j).

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