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New York Tax - Part 1 - § 960 Nonresident's Estate Tax

Legal Research Home > New York Laws > Tax > New York Tax - Part 1 - § 960 Nonresident's Estate Tax

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    § 960. Nonresident's estate tax. (a) General.--A tax is hereby imposed
  on the transfer, from any deceased individual who at his death was not a
  resident  of  New  York  state,  of  real and tangible personal property
  having an actual situs in New York state and either  (i)  includible  in
  his  federal  gross  estate or (ii) which would be includible in his New
  York gross estate pursuant to section nine hundred fifty-seven (relating
  to certain limited powers of appointment) if he were a resident  of  New
  York state.
    (b) Computation of tax.--The tax imposed under subsection (a) shall be
  the  same  as  the  tax  that  would  be due, if the decedent had died a
  resident, under subsection (a) of section nine hundred fifty-two, except
  that for purposes of allocating the tax under subsection (b) of  section
  nine  hundred  fifty-two,  "New  York gross estate", in the numerator in
  subsection (b) of section nine hundred fifty-two, shall not include  the
  value  of  any  intangible personal property otherwise includible in the
  deceased individual's New York gross estate.
    (c) Cross references.--(1) For valuation of property includible in the
  New York gross estate if the decedent had been a resident,  see  section
  nine hundred fifty-four.
    (2)  For  provisions  of  the  internal revenue code applicable to the
  federal gross estate of a decedent who was  neither  a  resident  nor  a
  citizen of the United States, see:
    Sec. 2103. Definition of gross estate.
    Sec. 2104. Property within the United States.
    Sec. 2105. Property without the United States.
    (d)   Works  of  art  on  loan  for  exhibition.  Notwithstanding  the
  foregoing, the tax imposed under subsection (a) on  the  transfer,  from
  any deceased individual who at his death was not a resident of the state
  of  New York, of works of art having an actual situs in the state of New
  York and either (i) includible in his federal gross estate or (ii) which
  would be includible in his New York gross  estate  pursuant  to  section
  nine   hundred  fifty-seven  (relating  to  certain  limited  powers  of
  appointment) if he were a resident of the state of New York, shall be an
  amount equal to the transfer taxes or death taxes of every character  in
  respect  of personal property which would be imposed on such transfer or
  such works of art if the actual situs of such  works  of  art  were  the
  state  or territory of the United States of residence of such individual
  if such works of art are sited in the  state  of  New  York  solely  for
  exhibition  purposes,  loaned  for  such purposes to a public gallery or
  museum (no part of the net earnings of which inure to the benefit of any
  private stockholder or individual), and (at the time  of  the  death  of
  such individual) on exhibition or en route to or from exhibition in such
  a  public  gallery  or  museum.  Provided  however, that if the state or
  territory of the United States of residence of such  individual  imposes
  transfer  taxes  or  death taxes on such works of art which are sited in
  the state of New York for the purposes herein specified, then such works
  of art shall not be subject to the tax imposed by this section.

Last modified: March 9, 2013