New Jersey Administrative Code
Title 18 - TREASURY - TAXATION
Chapter 26 - TRANSFER INHERITANCE AND ESTATE TAX
Subchapter 4 - COMPROMISES (INHERITANCE AND ESTATE TAXES)
Section 18:26-4.2 - Compromise and settlement of certain tax claims or liens; waiver of defenses

Universal Citation: NJ Admin Code 18:26-4.2

Current through Register Vol. 56, No. 18, September 16, 2024

(a) The Director may enter into an agreement with the executor, administrator, trustee, or beneficiary of any estate to alter, revise, compromise, and settle all claims or liens for past due transfer inheritance tax or estate or transfer taxes, together with all interest or interest penalties thereon, where:

1. Any lien or claim for any past due transfer inheritance tax or estate or transfer taxes are brought into question, claimed to be invalid or impaired, or are the subject of litigation; or

2. The Director, after investigation, determines that there is reasonable doubt as to the State's ability to enforce said lien or claim, or to collect the taxes due or claimed to be due, or that there is a reasonable doubt that said lien is valid or unimpaired.

(b) The agreement must require the executor, administrator, trustee, heir or heirs, next of kin, beneficiary, or beneficiaries, to waive all defenses that might be asserted against the claim or lien of the State and to submit to such terms of payment and settlement as the Director shall deem to be equitable, just, and in the best interest of the State.

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