New York Tax Law (Consolidated Laws)
N.Y. Tax Law § 957
Modification for limited powers of appointment created prior to September first, nineteen hundred thirty
§ 957. Modification for limited powers of appointment created prior to September first, nineteen hundred thirty. (a) General.--In determining the New York gross estate, there shall be added to the federal gross estate of a deceased resident the value of all property (other than real and tangible personal property situated outside New York state) passing under a limited power of appointment exercised by the decedent (A) by will or (B) by a disposition which is of such nature that if it were a transfer of property owned by him, such property would be includible in his federal gross estate under section two thousand thirty-five, two thousand thirty-six, two thousand thirty-seven or two thousand thirty-eight of the internal revenue code.
(b) Definition.-- For purposes of this section, a limited power of appointment means a power--
# (1)
with respect to property which is not or was not subject to New York death tax in the estate of the grantor of such power, but would have been so taxable except for a statute providing that the tax on the transfer of such property should be imposed in the estate of the grantee of such power in the event of its exercise; and
# (2)
the exercise of which has not required the inclusion of the property in the decedent's federal gross estate under section two thousand forty-one of the internal revenue code (relating to general powers of appointment).
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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