N.J. Admin. Code § 18:26-9.14

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

Section 18:26-9.14 - Bond for failure to pay tax

(a) Where an executor, administrator, grantee, donee, buyer, beneficiary, or trustee fails to pay the tax due within eight months from the date of a decedent's death, such person is required to give a bond, on a form approved by the Director, to the State of New Jersey in double the amount of the tax to secure payment of any tax and interest which may become due.

(b) In the case of tax due on any sum recovered as compensation for the death of a person caused by a wrongful act, neglect, or default, the bond is required within eight months of the date of the award determination if the tax is not paid within 30 days of the receipt of the award or settlement.

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