Estate Tax Act

This act establishes a state estate tax on the transfer of property at death, applying separately to the estates of residents, nonresidents, and aliens, and tied to the federal estate tax through a credit and through adjustments when the federal tax changes. It sets out how the tax is computed and administered — returns and amended returns, assessment and payment deadlines, extensions, interest, refunds, and agreements fixing the amount due — and secures collection through a special lien on estate property, the liability of personal representatives, and authority to sell real estate to satisfy the tax. It also addresses related procedural matters, including determining the decedent's domicile, proving payment of death taxes to the domiciliary state, discharging liens and closing estates, apportioning the tax among beneficiaries, and civil and criminal penalties, with administration placed in the hands of the state tax commissioner.

Editorial summary generated from the text of this act. It is not part of the statute — read the sections below for the operative language.