New Jersey Administrative Code
Title 18 - TREASURY - TAXATION
Chapter 26 - TRANSFER INHERITANCE AND ESTATE TAX
Subchapter 8 - ASSESSMENT AND VALUATION
Section 18:26-8.15 - Government bonds and securities
Universal Citation: NJ Admin Code 18:26-8.15
Current through Register Vol. 56, No. 18, September 16, 2024
(a) Treasury bonds and similar negotiable obligations issued by the United States are valued at:
1. The intermediate price between the low and high
price prevailing on the date of death of the decedent if traded on an exchange or
over the counter;
2. If there were no
sales of bonds or similar negotiable obligations issued by the United States on the
date of death, either the mean between the highest and lowest selling price for the
previous day, or the nearest trading day prior to the date of death, or the prorated
value used for Federal estate tax purposes reflecting the mean between the highest
and lowest selling price on the nearest trading dates prior to and subsequent to the
date of death may be used. The Alternative Valuation Date method of valuing bonds
for Federal estate tax purposes is, however, not acceptable for New Jersey transfer
inheritance tax purposes. All of the assets must be valued using the same
method;
3. Interest accrued from last
interest date to date of death is required to be added to the taxable estate in
addition to the quoted value of bonds or similar obligations, except:
i. Interest accrued from the last interest date to
the date of death is not included in the appraisal of the United States Savings
Bonds Series "H."
ii. Government
securities acceptable in payment of Federal estate taxes at par will be valued for
New Jersey transfer inheritance tax purposes at their market value as of the date of
a decedent's death in accordance with (a)1 above.
Disclaimer: These regulations may not be the most recent version. New Jersey may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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