Consent Fixing Period of Limitation Upon Assessment of New Jersey Estate Taxes - New Jersey

Consent Fixing Period of Limitation Upon Assessment of New Jersey Estate Taxes is a legal document that was released by the New Jersey Department of the Treasury - a government authority operating within New Jersey.

FAQ

Q: What is the Consent Fixing Period of Limitation upon assessment of New Jersey Estate Taxes?
A: The Consent Fixing Period of Limitation is a period of time during which the New Jersey Division of Taxation and the taxpayer can agree on the amount of estate tax liability.

Q: Why is there a Consent Fixing Period of Limitation for New Jersey Estate Taxes?
A: The Consent Fixing Period of Limitation provides a way for the taxpayer and the Division of Taxation to agree on the amount of estate tax liability in order to avoid disputes and litigation.

Q: How long is the Consent Fixing Period of Limitation for New Jersey Estate Taxes?
A: The Consent Fixing Period of Limitation is generally three years from the date of the final determination of the federal estate tax liability.

Q: Can the Consent Fixing Period of Limitation be extended?
A: Yes, the Consent Fixing Period of Limitation can be extended if both the taxpayer and the Division of Taxation agree in writing.

Q: What happens if the taxpayer and the Division of Taxation cannot agree on the amount of estate tax liability during the Consent Fixing Period of Limitation?
A: If the taxpayer and the Division of Taxation cannot agree on the amount of estate tax liability during the Consent Fixing Period of Limitation, the Division of Taxation may issue an assessment and the taxpayer can file an appeal.