Form It-Nr - Inheritance Tax Return Non-Resident Decedent - New Jersey Division Of Taxation Page 7
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41METHODS OF FILING
Four methods may be used to compute the Inheritance Tax on the New Jersey Non-Resident
Return. An election once made may not be changed and is irrevocable.
METHOD 1 – SIMPLIFIED TAX COMPUTATION
METHOD 2 - RATIO TAX USING NET ESTATE
METHOD 3 - RATIO TAX USING GROSS ESTATE
METHOD 4 - DIRECT TAX ON SPECIFIC DEVISE, JOINTLY OWNED
AND TRANSFERS OF NEW JERSEY REAL AND TANGIBLE PERSONAL PROPERTY
METHOD 1 – SIMPLIFIED TAX COMPUTATION
This is an optional method. It can be used instead of any of the above methods. Method 1 requires the
least amount of paperwork. Page 1 of the Inheritance Tax Return and the appropriate schedule are the
only items required to be completed. The tax is computed by multiplying the total of the New Jersey
assets by a 15% tax rate. Complete only the schedule which applies to the asset being reported and answer
the first 4 questions of Schedule “E”.
Use worksheet 1. See example on pages 14 and 16.
In the event all beneficiaries are Class “A” (see page 2 for a list of Class “A” beneficiaries) Form L9-NR
should be used as Class “A” beneficiaries are not subject to tax.
METHOD 2 - RATIO TAX USING NET ESTATE
This method requires that all of the decedent’s assets be reported on the various schedules. This includes
assets in New Jersey as well as those located in other states or countries. A deduction is permitted for all
qualified debts and expenses of the estate (see back of Schedule “C” for allowable deductions). A tax is
first computed on the entire net estate. The tax due New Jersey is then determined by multiplying the tax
so computed by a fraction the numerator of which is the adjusted value of the New Jersey property and
the denominator of which is the adjusted value of the entire net estate. This method requires that all of
the schedules be completed (Schedules A – F).
Use worksheet 2. See example on pages 14 and 17.
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