N.J. Admin. Code § 18:26-7.15

Current through Register Vol. 56, No. 19, October 7, 2024

Section 18:26-7.15 - State, county, and local taxes

(a) A deduction is allowed for any State, county, and municipal taxes owing and unpaid at the date of death on any real property of a decedent that is subject to the New Jersey transfer inheritance tax. The amount of the deduction on such property for the current fiscal year, however, is limited to that sum representing unpaid taxes as the elapsed portion of said year bears to the full year. No deduction is allowed for State, county, or municipal taxes assessed or accruing subsequent to the death of the decedent.

(b) No deduction for unpaid State, county, and municipal taxes is allowed where the real property owned by the decedent was held by such decedent and a surviving spouse/civil union partner as tenants by the entirety, unless it can be shown that during the decedent's lifetime, the decedent appropriated all of the income from such property without having paid any of the State, county, and municipal taxes and other charges assessed against the real property.

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