New Jersey Administrative Code
Title 18 - TREASURY - TAXATION
Chapter 26 - TRANSFER INHERITANCE AND ESTATE TAX
Subchapter 8 - ASSESSMENT AND VALUATION
Section 18:26-8.22 - Estates subject to power of appointment
Universal Citation: NJ Admin Code 18:26-8.22
Current through Register Vol. 56, No. 18, September 16, 2024
When an instrument creates a power of appointment, the life estate or estate for years, to which such power is subject, is immediately appraised and taxed according to the provisions of N.J.A.C. 18:26-8.22; however, the appraisal and taxation of the remainder interest is suspended until the exercise of the power, at which time it is taxed at the clear market value as of the date of death of the creator of the power.
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