(Credit: Sean Locke Photography/Shutterstock.com)
For many years, the New Jersey Division of Taxation has generally applied the Internal Revenue Code to the treatment of New Jersey estates, including the general rule of Section 529 of the Code, which states in part that, with two exceptions, no amount is includible in a decedent’s gross estate “by reason of an interest in a qualified tuition program.” Most practitioners have interpreted this to mean that qualified tuition programs (more commonly referred to as “529 accounts”) are not included in a decedent’s gross estate for New Jersey estate or inheritance tax purposes; however, it turns out that this understanding may not be true, especially with respect to the latter.
To view this content, please continue to Lexis Advance®.
Not a Lexis Advance® Subscriber? Subscribe Now
LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.
ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.
For questions call 1-877-256-2472 or contact us at firstname.lastname@example.org