New Jersey Administrative Code
Title 18 - TREASURY - TAXATION
Chapter 26 - TRANSFER INHERITANCE AND ESTATE TAX
Subchapter 3A - ESTATE TAX-DECEDENTS DYING AFTER DECEMBER 31, 2001, BUT BEFORE JANUARY 1, 2017
Section 18:26-3A.3 - Simplified tax system

1. Net estate determined for purposes of the New Jersey transfer inheritance tax under the provisions of the statutes and regulations in effect on the date of the decedent's death (line 7 of recital page of Form IT-R); plus

2. Real and tangible personal property located outside New Jersey; plus

3. Proceeds of any contract of insurance on the life of the decedent owned by the decedent or transferred by the decedent within three years of death paid to any beneficiary other than the executor, administrator, or estate; plus

4. All transfers made within three years of the date of the decedent's death not included in the transfer inheritance tax net estate; plus

5. In the event that the decedent was a surviving spouse/civil union partner of a decedent who died on or after February 19, 2007, and received qualified terminable interest property (QTIP) from the predeceased spouse or civil union partner for which the marital deduction was elected for Federal and/or New Jersey, the full value of the QTIP property; plus

6. Any other property includable in the Federal gross estate under the provisions of the Internal Revenue Code in effect on December 31, 2001; less

7. Any property:

1. On any amount less than or equal to $ 615,000, no tax;

2. On any amount equal to or more than $ 615,000 but less than $ 667,174, 37.0 percent of the excess more than $ 615,000;

3. On any amount equal to or more than $ 667,174 but less than $ 840,000, 4.8 percent of the excess over $ 667,174 plus $ 19,304;

4. On any amount equal to or more than $ 840,000 but less than $ 1,040,000, 5.6 percent of the excess over $ 840,000 plus $ 27,600;

5. On any amount equal to or more than $ 1,040,000 but less than $ 1,540,000, 6.4 percent of the excess over $ 1,040,000 plus $ 38,800;

6. On any amount equal to or more than $ 1,540,000 but less than $ 2,040,000, 7.2 percent of the excess over $ 1,540,000 plus $ 70,800;

7. On any amount equal to or more than $ 2,040,000 but less than $ 2,540,000, 8.0 percent of the excess over $ 2,040,000 plus $ 106,800;

8. On any amount equal to or more than $ 2,540,000 but less than $ 3,040,000, 8.8 percent of the excess over $ 2,540,000 plus $ 146,800;

9. On any amount equal to or more than $ 3,040,000 but less than $ 3,540,000, 9.6 percent of the excess over $ 3,040,000 plus $ 190,800;

10. On any amount equal to or more than $ 3,540,000 but less than $ 4,040,000, 10.4 percent of the excess over $ 3,540,000 plus $ 238,800;

11. On any amount equal to or more than $ 4,040,000 but less than $ 5,040,000, 11.2 percent of the excess over $ 4,040,000 plus $ 290,800;

12. On any amount equal to or more than $ 5,040,000 but less than $ 6,040,000, 12.0 percent of the excess over $ 5,040,000 plus $ 402,800;

13. On any amount equal to or more than $ 6,040,000 but less than $ 7,040,000, 12.8 percent of the excess over $ 6,040,000 plus $ 522,800;

14. On any amount equal to or more than $ 7,040,000 but less than $ 8,040,000, 13.6 percent of the excess over $ 7,040,000 plus $ 650,800;

15. On any amount equal to or more than $ 8,040,000 but less than $ 9,040,000, 14.4 percent of the excess over $ 8,040,000 plus $ 786,800;

16. On any amount equal to or more than $ 9,040,000 but less than $ 10,040,000, 15.2 percent of the excess over $ 9,040,000 plus $ 930,800; and

17. On any amount equal to or more than $ 10,040,000, 16.0 percent of the excess over $ 10,040,000 plus $ 1,082,800.