Rutgers Law

New Jersey Statutes, Title: 54, TAXATION

    Chapter 35: Date when tax due

      Section: 54:35-5.1: Limitation of time for commencing proceedings to collect inheritance tax

           On the expiration of a period of 15 years after the date when any transfer inheritance tax assessed or assessable under chapters 33 to 36 of Title 54, or any amendment thereof or supplement thereto, or under P.L.1909, c. 228, as amended and supplemented, became or shall become due and payable, (1) no proceeding shall thereafter be instituted to assess or collect said tax, interest or penalties chargeable thereunder; (2) no notice to, or written consent of, the Director of the Division of Taxation, relative to the transfer of real or personal property, as required by sections 54:35-19 and 54:35-21 of the Revised Statutes, shall be necessary; (3) the personal liability of executors, administrators, trustees, grantees, donees, vendees, devisees, legatees, heirs, next-of-kin and beneficiaries for said tax, interest and penalties shall cease; and (4) the director is hereby authorized to cancel all assessments of taxes, interest and penalties, the collection of which is barred by the limitations herein provided and to destroy returns and records relating thereto which are rendered useless by the provisions of this act. Nothing herein contained, however, shall affect the rights of the State (a) under any certificate of debt, decree or judgment for taxes, interest and penalties duly recorded with the Clerk of the Superior Court, or with any county clerk; or (b) to assess and enforce collection of any tax, interest and penalties pursuant to the terms of any bond or other agreement securing the payment of such tax, interest and penalties.

L.1947, c. 369, p. 1182, s. 1. Amended by L.1953, c. 51, p. 926, s. 140; L.1979, c. 417, s. 2, eff. Feb. 8, 1980.



This section added to the Rutgers Database: 2012-09-26 13:37:56.

Older versions of 54:35-5.1 (if available):

Court decisions that cite this statute: CLICK HERE.