When is a New Jersey Inheritance Tax Return Required?

A New Jersey Inheritance Tax Return is required when assets are passing to non-spouses who are not lineal descendants of a Decedent (e.g. brothers, sisters, aunts, uncles, nieces, nephews). A New Jersey Inheritance Tax Return is also desirable to obtain tax waivers to release the State of New Jersey’s inheritance and estate tax lien on certain assets, such as stock in New Jersey Corporations, New Jersey bonds and New Jersey bank accounts.

If required, the New Jersey Inheritance Tax Return is due within 8 months of the date of death. Interest on any underpayment is charged at the rate of 10%