New York Tax Law (Consolidated Laws)
N.Y. Tax Law § 955
Resident's New York taxable estate
§ 955. Resident's New York taxable estate.
# (a)
General.--The taxable estate of a New York resident shall be his or her New York gross estate, minus the deductions allowable for determining his or her federal taxable estate under the internal revenue code (whether or not a federal estate tax return is required to be filed), except to the extent that such deductions relate to real or tangible personal property sitused outside New York state.
# (b)
Waiver of deductions.-- If the right to any deduction otherwise allowable is waived for federal estate tax purposes, it shall be considered waived for New York estate tax purposes.
# (c)
Qualified terminable interest property election.-- Except as otherwise provided in this subsection, the election referred to in paragraph (7) of subsection (b) of section 2056 of the internal revenue code shall not be allowed under this article unless such election was made with respect to the federal estate tax return required to be filed under the provisions of the internal revenue code. If such election was made for the purposes of the federal estate tax, then such election must also be made by the executor on the return of the tax imposed by this article. Where no federal estate tax return is required to be filed, the executor must make the election referred to in such paragraph (7) with respect to the tax imposed by this article on the return of the tax imposed by this article. Any election made under this subsection shall be irrevocable.
# (d)
Cross references.-- For provisions of the internal revenue code specifying the deductions allowable for federal estate tax purposes, see:
Sec.2032(b). Alternate valuation--special rule for deductions.
Sec.2046. Disclaimers.
Sec.2053. Expenses, indebtedness, and taxes.
Sec.2054. Losses.
Sec.2055. Transfers for public, charitable, and religious uses.
Sec.2056. Bequests, etc., to surviving spouse.
Source: view the official text
In this article (33 sections)
- 951 · Applicable internal revenue code provisions
- 951-A · General provisions and definitions
- 952 · Tax imposed
- 954 · Resident's New York gross estate
- 955 · Resident's New York taxable estate
- 957 · Modification for limited powers of appointment created prior to…
- 958 · Exemptions in other laws not applicable
- 960 · Nonresident's estate tax
- 960-A · Reciprocity
- 961 · Effect of federal determination
- 971 · Estate tax returns
- 971-A · Additional proceedings in estates of non-domiciliary decedents
- 972 · Time and place for filing returns
- 973 · Signing of returns and other documents
- 974 · Payment of tax
- 975 · Liability for tax
- 976 · Extensions of time
- 977 · Requirements concerning returns, notices, records and statements
- 978 · Compromise agreements in cases of disputed domicile
- 979 · Report of change in federal taxable estate, adjusted taxable…
- 979-A · Notification by surrogate to commissioner concerning tax
- 980 · Change of election
- 981 · Discharge from liability
- 982 · Lien for estate tax
- 983 · Surrogates; assistants and clerks; district tax attorneys
- 990 · Applicability of other tax law provisions
- 991 · Interest accrual relief for additional tax attributable to…
- 992 · Addition to tax in the case of valuation understatement
- 994 · Secrecy requirement and penalties for violation
- 997 · Extensions of time for payment of estate tax where estate…
- 998 · Petition to the surrogate's court and appeal
- 999 · Deposit and disposition of revenue
- 999-A · Appendix to article twenty-six