54:35-3 - Delay in payment; penalty; reduction of penalty; interest; postponement as to estate of member of armed forces - New Jersey Statutes

54:35-3.  Delay in payment;  penalty;  reduction of penalty;  interest; postponement as to estate of member of armed forces
    If such tax is not paid within 8 months after the date on which it became due and payable pursuant to R.S. 54:35-1, the tax shall bear interest at the rate of 10% per annum from the expiration of 8 months after the date on which it became due and payable to the date when the tax is paid, unless, payment was  tendered by the taxpayer within the 8 months period and is evidenced by the  postmark on the letter conveying the payment, or by other acceptable proof, but  was not credited through no fault of the taxpayer, in which case no interest  shall be charged, or unless, by reason of claims made upon the estate,  necessary litigation or other unavoidable cause of delay, the decedent's  estate, or a part thereof, cannot be settled before the expiration of 8 months  from the date on which said tax became due and payable, in which case only 6%  per annum shall be charged from the expiration of such 8 months until the cause  of delay is removed;  provided, however, that if the decedent shall have  heretofore died or shall hereafter die while a member of the Armed Forces of  the United States, no such tax shall commence to bear such interest until the expiration of 8 months after receipt of official notification of the death of  the decedent by the wife, husband, father, mother, or next of kin of such  decedent.

     Amended by L.1946, c. 70, p. 259, s. 1;  L.1962, c. 15, s. 2;  L.1976, c. 110,  s. 1, eff. Oct. 29, 1976;  L.1978, c. 172, s. 2, eff. Dec. 28, 1978.