Report 2315225 New York State Estate Tax Sfy 1995 96
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OTPA
Office of Tax Policy Analysis
New York State Department of Taxation and Finance
ANNUAL STATISTICAL REPORT
January 1997
New York State
Estate Tax
SFY 1995-96
Analysis of tax returns
George E. Pataki
Governor
Michael H. Urbach
Commissioner
Contents
Introduction
Tables
Description of Tax
Recent Law Changes
Description of Data in This Study
Tables Contained in This Study
Table 1: Summary Statistics for All Estates: Assets,
Deductions, Credits, Tax Liability
Table 2: All Estates: Major Items by Year of Death and
Residence
Table 3: All Estates: Major Items by County of Residence
and Taxable Status (Taxable and Nontaxable)
Table 4: All Estates: Major Items by Tax Liability
Table 4A: Estates With Surviving Spouse: Major Items
by Tax Liability
Table 4B: Estates Without Surviving Spouse: Major Items
by Tax Liability
Table 5: All Taxable Estates: Major Items by Gross Estate
Class
Table 5A: Resident Taxable Estates: Major Items by Gross
Estate Class
Table 5B: Nonresident Taxable Estates: Major Items by
Gross Estate Class
Table 6: Nontaxable Estates: Major Items by Gross Estate
Class
Table 7: Taxable Estates: Components of Gross Estate by
Gross Estate Class
Table 8: Nontaxable Estates: Components of Gross
Estate by Gross Estate Class
Table 9: Taxable Estates: Components of Total Deductions
by Gross Estate Class
Table 10: Nontaxable Estates: Components of Total Deductions
by Gross Estate Class
1
1
3
3
4
5
6
7
9
10
11
12
13
14
15
16
20
24
28
Table 11: Taxable Estates: Components of Total Credits
by Net Estate Class
Table 12: Nontaxable Estates: Components of Total Credits
by Net Estate Class
Table 13A: Resident Taxable Estates with Non-New York
Property Distributed by Gross Estate Class
Table 13B: Nonresident Taxable Estates with Non-New York
Property Distributed by Gross Estate Class
Appendixes
Appendix A: Glossary of Key Terms
Appendix B: Form ET-90: New York State Tax Return
32
34
36
37
A-1
B-1
Introduction
This report provides a statistical profile of estate tax returns processed by
the Department of Taxation and Finance between April 1, 1995 and
March 31, 1996. During this period, the Department processed
approximately 29,700 Form ET-90 returns. In addition to cataloging data
contained on tax returns, in certain cases the Department made
adjustments to correct for mathematical and other errors.
This study provides information on types and amounts of 1) assets,
2) deductions, 3) credits, and 4) tax liability. It also provides
distributional detail on these items. Most of the tables classify estates by
size of New York gross estate. Appendix A contains a glossary of key
terms contained in this report.
Description of Tax
New York imposes a unified estate and gift tax that, for the most part,
conforms to the federal unified estate and gift tax. Gifts made after 1982
are taxed using the tax rates applicable to total accumulated gifts. A
credit applies for tax previously paid or payable on these gifts. As a
result, persons making gifts over many years are subject to increasingly
higher graduated tax rates.
New York taxes the estate, plus the sum of all taxable gifts, and allows a
credit for previous gift tax paid. This credit ensures that no double
taxation occurs. The unified system effectively imposes a greater
amount of total tax on two estates of the same size in cases where one
estate has a higher amount of prior lifetime gifts than the other.
Since 1983, New York has followed the federal treatment that provides a
full exclusion for transfers to spouses. New York also follows the
federal provisions relating to special valuation of certain farm and
closely-held business property, and for deferral of tax on such property.
Tax is computed using Form ET-90. Appendix B contains a copy of this
form. The computation of estate tax begins with federal gross estate,
1995-96 Estate Tax
Page 1
which includes both New York assets and nontaxable, non-New York
assets. Federal deductions for such items as spousal transfers, bequests
to charities, decedents’ debts, and death expenses, are permitted in
determining the taxable estate.
In addition, a State deduction for up to $250,000 of the decedent’s
principal residence applies. This provision took effect for estates of
individuals who died after June 7, 1995. Therefore, it applies to only a
portion (fewer than 5 percent) of the estate tax returns contained in this
study.
Adding adjusted taxable gifts results in preliminary tentative tax base.
The taxpayer then computes a tentative tax, using a tax rate schedule
ranging from 2 percent on the first $50,000 to 21 percent on taxable
amounts in excess of $10.1 million. The unified credit of as much as
$2,950 is then subtracted. This credit serves to exempt estates plus
taxable gifts of under $115,000 from tax. The credit phases down dollarfor-dollar with tax liability, to a $500 minimum. The result, net
preliminary tentative tax, is then multiplied by a percentage equal to the
ratio of New York property to total property. This ensures that no tax is
imposed on non-New York real and tangible property, or on nonresident
decedents’ intangible property.
The above computation results in tentative tax. Certain credits against
tentative tax then apply. These include credits for:
!
gift tax paid or payable on post-1982 gifts,
!
agricultural exemption,
!
certain closely held business property,
!
estate tax on prior transfers, and
!
gift tax paid on pre-1983 gifts.
After subtraction of available credits, New York net estate tax results,
unless the minimum tax is higher. New York uses the federal credit for
state death taxes as a minimum tax. If tax liability is less than the credit,
then the credit becomes the tax liability. Failure to maintain the credit as
Page 2
1995-96 Estate Tax
a minimum tax would effectively increase the estate’s federal tax
liability. This is because the federal credit for state death taxes equals
the greater of an amount prescribed by a rate schedule, or tax actually
paid. Using the federal death tax credit as a minimum tax, therefore,
minimizes the estate’s federal tax.
As for federal purposes, the estate tax return, Form ET-90, is due within
nine months of the decedent’s death. However, to avoid interest, 90
percent of the tax is due within six months. For this reason, many returns
are also filed within six months, despite the nine-month due date.
Recent Law Changes
Legislation enacted in 1994 increased the maximum unified credit from
$2,750 to $2,950, thereby increasing the exemption equivalent from
$108,333 to $115,000. This legislation also provided a new credit equal
to 5 percent of the first $15 million of assets in a closely-held business.
This maximum credit of $750,000 reduces the tax burden on the transfer
of small businesses to heirs upon an owner’s death. In effect, small
businesses valued at less than $600,000 do not create an estate tax
liability.
Legislation adopted in 1995 provides a new deduction equal to a
maximum of $250,000 of assets representing equity in the decedent’s
principal residence. By reducing the tax on such assets, it facilitates the
transfer of homes from decedents to their heirs. The principal residence
deduction, combined with the unified credit, allows up to $365,000 of
assets to be exempt from tax.
Description of Data in
This Study
The information in this study comes from all estate tax returns which the
Tax Department processed during the 1995 New York State fiscal year.
Unlike previous estate tax studies prepared by the Office of Tax Policy
Analysis, it does not come from a sample of “closed” estates. The term
“closed estate” referred to an estate that fully underwent valuation and
audit, and satisfied all tax obligations, including deferrals and
installments.
This study also includes some returns that will eventually be adjusted,
either upon audit or due to additional verification procedures used by the
Tax Department. However, only a small share of processed returns will
eventually have a different tax liability than that initially reported on the
return.
1995-96 Estate Tax
Page 3
This study includes returns that were taxed under different years of tax
provisions. In fact, about 5 percent of all returns are for decedents who
died before 1993. Thus, even though recent law changes have been
relatively minor in nature, users of this study should use caution in
attempting to relate data to a particular estate tax law.
In addition, although this study covers returns processed between April 1,
1995 and March 31, 1996, these returns do not reflect actual fiscal year
1996 estate tax collections. Estate tax collections reflect payments
received from several different years of Tax Law, and from several
different years of decedents’ death. They also include the effects of audit
revenue paid to the Tax Department, and refunds paid by the Tax
Department.
Many estates have taxable gifts upon which gift tax was previously paid.
The gift tax is paid annually, and applies to all gifts made during the
year, after an annual exclusion of up to $10,000 per donee. Tax is then
computed using the same rates and unified credit applicable for the estate
tax. This report includes only estate tax returns, and therefore does not
provide gift tax information. However, it does include information for
gifts upon which gift tax was previously paid and includible in the
decedent’s estate.
Tables Contained in
This Study
Page 4
The following tables provide statistical information on estate tax returns
processed during the 1995-96 State fiscal year. In addition to overall
summary tables, the information is grouped by:
!
decedents’ county of residence,
!
estate tax liability,
!
decedents’ year of death,
!
size of gross estate,
!
size of net (taxable) estate, and
!
situs (New York and total) of assets.
1995-96 Estate Tax
Table 1: Summary Statistics
for All Estates: Assets,
Deductions, Credits, Tax
Liability
(Dollar Data in Thousands)
Item
Totals
Number of Returns
New York Gross Estate
Taxable
Nontaxable
29,689
20,252
9,437
$18,839,212
$16,039,011
$ 2,800,201
Real Estate
2,937,036
2,506,894
430,143
Stocks and Bonds
6,834,168
6,335,486
498,682
Mortgages, Notes and Cash
2,315,225
2,007,005
308,220
744,010
470,275
273,736
2,030,907
1,267,635
763,272
Insurance
Jointly Owned Property
Miscellaneous Assets
1,870,721
1,609,388
261,334
Transfers During Decedent’s Life
1,136,084
1,071,589
64,495
203,509
194,742
8,767
Powers of Appointment
Annuities
803,618
610,429
193,189
Adjustments
(36,069)
(34,431)
(1,637)
Federal Gross Estate
$18,875,280
$16,073,442
$ 2,801,838
Total Deductions
$ 7,582,049*
$ 5,093,695
$2,488,354*
Funeral and Administrative Expenses
928,642
816,036
112,606
Debts of Decedent
807,274
586,035
221,239
29,058
20,337
8,721
Net Losses During Administration and Federal
Estate Tax on Excess Retirement Accumulations
New York Marital Deduction
4,602,425
2,715,167
1,887,258
Adjustment to Marital Deduction
12,719
9,637
3,082
New York Charitable Deduction
1,051,003
827,563
223,439
20,099
19,867
233
136,174
104,375
31,799
$11,586,622
$11,199,545
$ 387,078
11,326,261
10,945,536
380,725
Additions to Federal Charitable Deduction
Primary Residence Deduction
New York Taxable Base
New York Taxable Estate
Adjusted Taxable Gifts
260,361
254,009
6,352
Estate Tax on NY Taxable Base (Before Allocation)
$
819,646
$
810,155
$
9,491
Total Tax Credits
$
44,232
$
34,767
$
9,465
Gift Tax Payable on Gifts Made After 1982
13,077
12,651
426
Unified Credit
26,151
17,161
8,991
Agricultural Exemption Credit and Closely Held
Business Credit
1,160
1,141
18
Prior Transfer Credit
3,815
3,785
30
Gift Tax Credit
Tax After Credit (NY Estate Tax Liability)
29
$
669,424
29
$
669,424
0
$
0
Detailed figures do not necessarily add to totals due to rounding and various processing factors.
* Total deductions reported exceed actual deductions used. Therefore, NY Taxable Base does not necessarily
equal NY Gross Estate - Deductions + Taxable Gifts.
1995-96 Estate Tax
Page 5
Table 2. All Estates: Major
Items by Year of Death and
Residence
(Dollar Data in Thousands)
All
Year of
Death
NY Gross
Estate
Number
$
96,431
NY Taxable
Base*
$
68,596
NY Estate
Tax Liability
1990
173
1991
478
420,810
234,588
$ 5,651
17,538
1992
857
1,005,775
696,770
53,035
1993
2,203
1,506,586
934,426
53,529
1994
13,132
9,909,087
5,708,427
354,903
1995
12,784
5,887,792
3,938,599
184,664
1996
Grand Total
62
12,731
5,216
106
29,689
$18,839,212
$11,586,622
$669,424
NY Taxable
Base*
NY Estate
Tax Liability
Residents
Year of
Death
NY Gross
Estate
Number
1990
162
1991
461
1992
816
$
92,884
$
66,375
$ 5,627
331,103
213,617
17,197
800,820
572,681
52,642
1993
2,090
1,263,932
825,041
52,321
1994
12,729
9,101,056
5,298,734
349,425
1995
12,594
5,560,751
3,722,875
183,236
1996
Grand Total
62
12,731
5,216
106
28,914
$17,163,276
$10,704,538
$660,555
NY Gross
Estate
NY Taxable
Base*
NY Estate
Tax Liability
3,547
$ 2,221
Nonresidents
Year of
Death
Number
1990
11
1991
17
89,707
20,972
340
1992
41
204,955
124,088
393
1993
113
242,654
109,386
1,207
1994
403
808,031
409,693
5,477
1995
190
327,041
215,724
1,427
1996
Grand Total
$
$
23
0
0
0
0
775
$1,675,935
$882,084
$8,869
*NY Taxable Base = NY Gross Estate - Deductions + Taxable Gifts
Page 6
1995-96 Estate Tax
Table 3. All Estates: Major Items by County of Residence and Taxable Status
(Dollar Data in Thousands)
TAXABLE ESTATES
County
NEW YORK CITY
Number
of
Estates
NY Gross
Estate
NY
Taxable
Base*
NY Estate
Tax
Liability
County
$6,502,910
$4,513,618
$336,769
681
345,927
277,160
12,652
Nassau
2,178
1,743,477
1,178,601
75,575
Kings
1,760
786,150
657,031
26,664
Niagara
219
76,952
64,898
2,229
2,140
3,963,392
2,557,789
255,233
2,262
1,182,658
889,439
36,980
380
224,783
132,200
5,239
12,435
$7,942,023
$5,802,484
$323,430
Richmond
REST OF STATE
Albany
$
25,896
$
23,181
NY Estate
Tax
Liability
7,223
Queens
59
NY
Taxable
Base*
NY Gross
Estate
Bronx
New York
Montgomery
Number
of
Estates
$
924
Oneida
238
103,039
90,637
3,844
Onondaga
483
223,883
175,126
7,202
Ontario
91
42,274
32,707
1,265
Orange
279
173,485
121,073
7,154
Orleans
35
18,939
12,342
455
410
206,755
160,852
6,993
Oswego
68
21,863
21,083
725
Allegany
34
11,255
9,748
337
Otsego
71
44,501
31,521
1,590
Broome
216
109,135
92,585
4,597
Putnam
84
51,044
34,364
1,769
Cattaraugus
64
26,571
17,931
551
Rensselaer
210
101,929
90,277
5,268
Cayuga
89
35,073
28,129
919
Rockland
222
132,726
97,991
4,439
Chautauqua
147
58,667
49,137
1,769
St. Lawrence
65
27,356
23,367
883
Chemung
77
39,919
37,226
2,120
Saratoga
115
44,256
36,376
1,240
Chenango
59
29,091
18,219
617
Schenectady
244
142,437
103,893
4,647
Clinton
45
17,818
15,033
538
Schoharie
32
9,949
8,845
284
Columbia
79
49,361
31,455
1,327
Schuyler
12
5,258
3,939
174
Cortland
39
16,255
11,398
368
Seneca
28
15,417
11,579
490
Delaware
48
23,603
19,603
792
Steuben
66
28,998
26,682
1,284
Dutchess
293
201,923
157,305
10,463
Suffolk
1,435
1,026,065
688,079
38,986
Sullivan
92
35,578
30,162
1,126
Tioga
23
11,646
10,697
595
Tompkins
85
61,663
42,593
2,317
Erie
1,103
543,070
421,371
18,076
Essex
31
14,765
13,441
542
Franklin
33
22,219
19,219
1,144
Fulton
52
26,627
25,470
1,509
Ulster
190
78,748
63,014
2,363
Genesee
71
25,092
20,927
694
Warren
82
48,311
34,801
1,674
Greene
54
18,274
16,440
584
Washington
53
30,294
23,483
1,206
Hamilton
d/
d/
d/
d/
Wayne
71
26,178
21,834
726
Herkimer
58
25,240
19,661
779
Westchester
1,395
1,432,483
1,018,483
75,110
Jefferson
75
32,717
25,798
991
Wyoming
42
14,058
11,518
382
Lewis
d/
d/
d/
d/
Yates
24
10,664
11,401
379
Livingston
69
29,838
25,284
998
Unclassified
30
22,156
10,680
349
Madison
82
33,856
27,448
936
Nonresidents
568
1,582,923
873,931
8,869
Monroe
886
513,374
383,579
19,135
$16,039,011 $11,199,545
$669,424
Total
20,252
Detailed figures do not necessarily add to totals due to rounding and various processing factors.
d/ Due to confidentiality rules, this information could not be reported.
* NY Taxable Base = NY Gross Estate - Deductions + Adjusted Taxable Gifts
1995-96 Estate Tax
Page 7
Table 3. All Estates: Major Items by County of Residence and Taxable Status (Con’t)
(Dollar Data in Thousands)
NONTAXABLE ESTATES
County
NEW YORK CITY
Number
of
Estates
NY Gross
Estate
NY
Taxable
Base*
County
Montgomery
Number
of
Estates
36
$
NY Gross
Estate
NY
Taxable
Base*
2,298
$ 861,542
$103,295
4,836
$ 2,141
Bronx
242
68,153
12,712
Nassau
814
325,697
25,051
Kings
543
150,781
24,710
Niagara
218
33,559
8,483
New York
509
375,375
23,507
Oneida
142
29,029
6,094
Queens
807
216,749
34,209
Onondaga
299
66,971
11,792
Richmond
197
50,486
8,158
Ontario
67
15,091
2,927
Orange
139
36,290
6,282
6,917
$1,842,924
$275,127
Orleans
28
5,177
1,418
OTHER COUNTIES
Albany
255
64,222
10,065
Oswego
44
10,495
1,877
Allegany
39
8,146
1,683
Otsego
39
6,376
1,395
Broome
154
30,029
6,377
Putnam
48
13,135
1,819
Cattaraugus
44
6,990
1,640
Rensselaer
106
19,697
5,916
Cayuga
34
7,909
1,062
Rockland
113
45,914
3,323
Chautauqua
80
13,846
3,932
St. Lawrence
51
10,921
2,396
Chemung
62
10,875
2,723
Saratoga
86
18,966
3,109
Chenango
55
9,457
1,915
Schenectady
147
42,205
5,825
Clinton
23
7,309
847
Schoharie
10
1,636
448
Columbia
48
16,326
2,383
Schuyler
10
2,177
415
Cortland
34
5,634
1,860
Seneca
20
4,086
538
Delaware
46
8,303
1,650
Steuben
53
8,189
1,873
Dutchess
157
41,805
6,958
Suffolk
718
213,683
29,344
Erie
828
171,462
36,380
Sullivan
47
9,815
2,151
Essex
28
6,609
1,252
Tioga
29
5,138
1,073
Franklin
29
5,599
1,459
Tompkins
47
12,819
1,419
Fulton
25
4,297
1,132
Ulster
128
28,385
9,306
Genesee
58
7,693
2,325
Warren
53
12,353
1,578
Greene
24
5,807
1,383
Washington
44
7,520
1,560
Hamilton
d/
d/
d/
Wayne
91
21,409
3,375
Herkimer
33
5,922
2,338
Westchester
518
205,552
15,675
Jefferson
42
10,303
1,444
Wyoming
36
5,423
1,218
Lewis
d/
d/
d/
Yates
18
3,545
858
Livingston
38
11,270
1,427
Unclassified
21
6,281
771
Madison
35
6,249
1,601
Nonresidents
207
93,012
8,153
Monroe
526
144,494
19,839
9,437
$2,800,201
$387,078
Total
Detailed figures do not necessarily add to totals due to rounding and various processing factors.
d/ Due to confidentiality rules, this information could not be reported.
* NY Taxable Base = NY Gross Estate - Deductions + Adjusted Taxable Gifts
Page 8
1995-96 Estate Tax
Table 4. All Estates: Major Items by Tax Liability
(Dollar Data in Thousands)
Tax Liability Class
Greater Than
0 -
(Total
Assets)
NY Gross
Estate
Total
NY
Deductions
Taxable
Gifts
9,422
$ 2,790,493
$2,480,781
$ 6,289
721
233,782
129,732
5,178
NY
Taxable
Base*
Tax on
NY
Taxable
Base**
Total
Tax
Credits
384,879
$ 9,426
$ 9,425
109,228
3,709
2,047
(Tax) NY
Estate
Tax
Liability
Less Than
No Tax
$
Number
of
Estates
$
500
$
$
0
192
$
500 -
$
1,000
712
160,724
61,296
1,492
101,054
3,049
1,722
544
$
1,000 -
$
1,500
764
223,317
112,979
3,301
113,696
3,908
1,720
952
$
1,500 -
$
2,000
714
177,966
63,530
2,555
116,991
3,715
1,481
1,253
$
2,000 -
$
3,000
1,144
299,846
87,863
5,198
217,198
9,341
2,059
2,814
$
3,000 -
$
4,000
970
254,027
76,494
4,064
181,597
5,793
1,380
3,411
$
4,000 -
$
5,000
968
298,024
103,613
4,418
198,830
6,642
876
4,366
$
5,000 -
$
6,000
1,367
370,645
88,211
4,710
287,144
8,913
871
7,502
$
6,000 -
$
7,000
1,170
376,403
94,918
6,914
288,399
10,131
892
7,583
$
7,000 -
$
8,000
1,086
431,583
104,767
4,734
331,551
18,374
779
8,120
$
8,000 -
$
9,000
926
329,144
70,107
4,640
263,677
8,807
665
7,850
$
9,000 -
$
10,000
688
266,001
55,486
4,937
215,452
7,432
596
6,525
$
10,000 -
$
12,500
1,286
672,996
212,608
6,597
466,986
18,848
1,002
14,426
$
12,500 -
$
15,000
1,093
645,029
207,987
5,482
442,536
17,129
1,091
14,964
$
15,000 -
$
17,500
888
565,978
163,101
7,092
409,971
17,251
886
14,411
$
17,500 -
$
20,000
711
586,576
208,678
5,359
383,257
19,172
643
13,270
$
20,000 -
$
25,000
1,055
870,201
266,084
8,957
613,074
27,363
1,080
23,737
$
25,000 -
$
30,000
1,287
1,861,828
1,033,101
7,281
836,009
38,391
1,081
34,902
$
30,000 -
$
40,000
741
829,727
239,580
10,032
600,179
32,906
1,108
25,607
$
40,000 -
$
50,000
405
465,040
94,932
9,052
379,160
20,219
849
18,043
$
50,000 -
$ 100,000
771
1,221,479
277,804
19,908
963,583
59,692
2,088
53,366
$ 100,000 -
$ 500,000
648
2,437,591
587,496
50,032
1,900,126
186,897
3,141
136,760
$ 500,000 -
$1,000,000
80
614,577
152,863
28,072
489,785
58,465
2,233
55,755
72
1,856,234
608,039
44,066
1,292,261
224,075
4,518
213,069
Grand Total
29,689
$18,839,212
$7,582,049
$260,361
$11,586,622
$819,646
$44,232
$669,424
Resident
28,914
17,163,276
6,781,134
256,448
10,704,538
711,497
43,465
660,555
775
1,675,935
800,915
3,913
882,084
108,149
767
8,869
$1,000,000 -
Nonresident
Detailed figures do not necessarily add to totals due to rounding and various processing factors.
* NY Taxable Base = NY Gross Estate - Deductions + Taxable Gifts
** Tax on taxable base is prior to credits and nonresident allocation.
1995-96 Estate Tax
Page 9
Table 4A. Estates With Surviving Spouse: Major Items by Tax Liability
(Dollar Data in Thousands)
Tax Liability Class
Greater Than
0 -
(Total
Assets)
NY Gross
Estate
Total
NY
Deductions
Taxable
Gifts
5,178
$2,110,563
$2,089,108
$ 2,415
95
101,616
83,916
344
NY
Taxable
Base*
Tax on
NY
Taxable
Base**
Total
Tax
Credits
(Tax) NY
Estate
Tax
Liability
82,947
$ 1,966
$2,001
$
18,044
742
250
Less Than
No Tax
$
Number
of
Estates
$
500
$
0
22
$
500 -
$
1,000
66
48,948
35,563
78
13,463
507
140
50
$
1,000 -
$
1,500
80
97,730
84,858
1,298
14,170
478
207
98
$
1,500 -
$
2,000
60
54,532
40,076
1,503
15,959
658
163
105
$
2,000 -
$
3,000
90
53,717
35,956
582
18,342
585
160
220
$
3,000 -
$
4,000
85
59,421
39,072
548
20,896
768
146
299
$
4,000 -
$
5,000
77
99,739
73,977
811
26,573
1,396
85
346
$
5,000 -
$
6,000
118
68,150
41,889
1,223
27,484
905
106
648
$
6,000 -
$
7,000
103
75,095
49,547
3,000
28,548
1,019
213
664
$
7,000 -
$
8,000
84
79,172
55,445
1,142
24,869
866
79
629
$
8,000 -
$
9,000
94
61,698
34,570
1,123
28,250
965
101
800
$
9,000 -
$
10,000
73
51,769
28,194
777
24,352
871
84
697
$
10,000 -
$
12,500
143
115,692
66,636
2,031
51,086
1,855
193
1,608
$
12,500 -
$
15,000
144
215,044
153,861
2,692
63,875
2,614
404
1,965
$
15,000 -
$
17,500
122
179,555
116,116
3,833
67,271
3,789
248
1,969
$
17,500 -
$
20,000
137
266,472
172,021
2,074
96,525
7,470
159
2,573
$
20,000 -
$
25,000
255
358,922
212,518
3,723
150,127
6,636
326
5,809
$
25,000 -
$
30,000
582
1,327,930
960,639
2,286
369,577
16,755
322
15,619
$
30,000 -
$
40,000
58
184,120
116,718
1,736
69,138
6,679
130
2,029
$
40,000 -
$
50,000
26
61,650
40,495
2,869
24,024
1,253
104
1,130
$
50,000 -
$ 100,000
65
236,316
158,534
2,514
80,296
4,840
359
4,504
$ 100,000 -
$ 500,000
77
516,720
294,503
7,336
229,552
20,963
367
18,089
$ 500,000 -
$1,000,000
8
106,385
60,700
5,161
50,846
6,169
669
5,363
9
757,137
433,287
6,069
329,919
63,334
544
62,385
Grand Total
7,829
$7,288,093
$5,478,200
$57,165
$1,926,134
$154,080
$7,559
$127,623
Resident
7,563
6,526,638
4,900,287
56,130
1,738,471
134,517
7,395
126,085
266
761,455
577,913
1,035
187,663
19,563
163
1,538
$1,000,000 -
Nonresident
Detailed figures do not necessarily add to totals due to rounding and various processing factors.
* NY Taxable Base = NY Gross Estate - Deductions + Taxable Gifts
** Tax on taxable base is prior to credits and nonresident allocation.
Page 10
1995-96 Estate Tax
Table 4B. Estates Without Surviving Spouse: Major Items by Tax Liability
(Dollar Data in Thousands)
Number
of
Estates
Tax Liability Class
Greater Than
4,244
0 -
Total
NY
Deductions
Taxable
Gifts
NY
Taxable
Base*
Tax on
NY
Taxable
Base**
Total
Tax
Credits
679,929
132,166
$ 391,673
$ 3,874
$ 301,932
$ 7,460
$ 7,423
45,817
4,834
91,183
2,967
1,797
(Tax) NY
Estate
Tax
Liability
Less Than
No Tax
$
(Total
Assets)
NY Gross
Estate
$
500
626
$
$
0
170
$
500 -
$
1,000
646
111,776
25,733
1,414
87,591
2,542
1,582
494
$
1,000 -
$
1,500
684
125,588
28,122
2,003
99,526
3,430
1,513
854
$
1,500 -
$
2,000
654
123,434
23,454
1,052
101,032
3,057
1,318
1,148
$
2,000 -
$
3,000
1,054
246,129
51,906
4,616
198,856
8,755
1,899
2,593
$
3,000 -
$
4,000
885
194,607
37,421
3,516
160,701
5,025
1,234
3,111
$
4,000 -
$
5,000
891
198,285
29,636
3,607
172,256
5,246
791
4,020
$
5,000 -
$
6,000
1,249
302,495
46,322
3,487
259,660
8,008
766
6,854
$
6,000 -
$
7,000
1,067
301,307
45,371
3,914
259,851
9,112
680
6,919
$
7,000 -
$
8,000
1,002
352,411
49,322
3,593
306,681
17,508
700
7,492
$
8,000 -
$
9,000
832
267,446
35,537
3,517
235,427
7,843
564
7,050
$
9,000 -
$
10,000
615
214,232
27,292
4,160
191,100
6,561
512
5,828
$
10,000 -
$
12,500
1,143
557,304
145,972
4,566
415,899
16,993
809
12,818
$
12,500 -
$
15,000
949
429,985
54,127
2,790
378,661
14,515
686
12,999
$
15,000 -
$
17,500
766
386,423
46,984
3,259
342,700
13,462
638
12,442
$
17,500 -
$
20,000
574
320,104
36,657
3,285
286,732
11,702
484
10,698
$
20,000 -
$
25,000
800
511,278
53,566
5,234
462,947
20,728
754
17,928
$
25,000 -
$
30,000
705
533,898
72,461
4,995
466,432
21,635
759
19,282
$
30,000 -
$
40,000
683
645,607
122,862
8,296
531,041
26,227
978
23,578
$
40,000 -
$
50,000
379
403,390
54,437
6,183
355,136
18,966
746
16,913
$
50,000 -
$ 100,000
706
985,163
119,269
17,394
883,287
54,851
1,729
48,862
$ 100,000 -
$ 500,000
571
1,920,871
292,993
42,696
1,670,574
165,934
2,774
118,670
$ 500,000 -
$1,000,000
72
508,192
92,163
22,911
438,940
52,297
1,564
50,392
63
1,099,097
174,753
37,997
962,341
160,741
3,975
150,684
Grand Total
21,860
$11,551,119
$2,103,849
$203,196
$9,660,488
$665,566
$36,673
$541,801
Resident
21,351
10,636,639
1,880,847
200,319
8,966,067
576,981
36,070
534,470
509
914,481
223,002
2,877
694,421
88,585
603
7,331
$1,000,000 -
Nonresident
Detailed figures do not necessarily add to totals due to rounding and various processing factors.
* NY Taxable Base = NY Gross Estate - Deductions + Taxable Gifts
** Tax on taxable base is prior to credits and nonresident allocation.
1995-96 Estate Tax
Page 11
Table 5. All Taxable Estates: Major Items by Gross Estate Class
(Dollar Data in Thousands)
Gross Estate Class
Greater Than
(Total
Assets)
NY Gross
Estate
Number
of
Estates
Total
NY
Deductions
Tax on
NY
Taxable
Base**
NY
Taxable
Base*
Taxable
Gifts
Total
Tax
Credits
(Tax) NY
Estate
Tax
Liability
Less Than
$
0
-
$
50,000
30
260
$ 5,888
$
50,000 -
$
150,000
1,386
$
186,739
829
$
16,323
17,109
$
187,525
6,457
$
5,064
211
$
3,648
182
$
1,409
33
$
150,000 -
$
300,000
7,446
1,611,881
210,764
22,874
1,424,197
42,592
8,418
34,259
$
300,000 -
$
500,000
4,554
1,765,460
247,667
14,492
1,532,286
54,803
3,633
50,580
$
500,000 -
$
700,000
2,289
1,349,048
194,469
12,449
1,167,042
48,267
2,037
45,101
$
700,000 -
$
900,000
1,296
1,025,685
197,511
13,557
841,731
38,452
1,481
35,839
$
900,000 -
$ 1,100,000
763
754,766
184,000
9,351
580,117
28,652
1,207
26,494
$ 1,100,000 -
$ 1,600,000
949
1,253,859
355,898
17,995
915,957
51,274
2,226
46,768
$ 1,600,000 -
$ 2,100,000
440
803,041
289,859
11,680
524,861
33,053
1,326
29,779
$ 2,100,000 -
$ 2,600,000
261
607,653
210,598
9,201
406,256
28,908
907
25,552
$ 2,600,000 -
$ 3,100,000
170
483,415
195,884
6,994
294,524
22,250
564
20,411
$ 3,100,000 -
$ 3,600,000
136
454,610
170,858
11,480
295,232
24,561
664
22,500
$ 3,600,000 -
$ 4,100,000
89
341,588
125,563
6,181
222,205
19,573
509
17,606
$ 4,100,000 -
$ 5,100,000
138
627,410
285,470
11,815
353,755
32,550
533
29,106
$ 5,100,000 -
$ 6,100,000
69
381,415
158,642
8,943
231,716
23,845
595
20,306
$ 6,100,000 -
$ 7,100,000
31
207,133
84,449
7,039
129,722
14,791
497
11,644
$ 7,100,000 -
$ 8,100,000
39
294,576
105,577
10,640
199,639
23,581
695
19,647
$ 8,100,000 -
$ 9,100,000
32
272,933
114,218
8,330
167,044
20,506
656
18,608
$ 9,100,000 -
$10,100,000
21
202,745
91,620
7,167
118,293
15,317
567
13,311
113
3,414,226
1,854,066
40,825
1,600,984
281,902
4,423
200,470
Grand Total
20,252
$16,039,011
$5,093,695
$254,009
$11,199,545
$810,155
$34,767
$669,424
Resident
19,684
14,456,088
4,380,786
250,157
10,325,614
702,207
34,179
660,555
568
1,582,923
712,909
3,852
873,931
107,947
588
8,869
$10,100,000 -
Nonresident
Detailed figures do not necessarily add to totals due to rounding and various processing factors.
* NY Taxable Base = NY Gross Estate - Deductions + Taxable Gifts
** Tax on taxable base is prior to credits and nonresident allocation.
Page 12
1995-96 Estate Tax
Table 5A. Resident Taxable Estates: Major Items by Gross Estate Class
(Dollar Data in Thousands)
Gross Estate Class
Greater Than
(Total
Assets)
NY Gross
Estate
Number
of
Estates
Total
NY
Deductions
NY
Taxable
Base*
Taxable
Gifts
Tax on
NY
Taxable
Base**
Total
Tax
Credits
(Tax) NY
Estate
Tax
Liability
Less Than
$
0 -
$
50,000
d/
$
50,000 -
$
150,000
1,362
$
150,000 -
$
300,000
7,355
$
300,000 -
$
500,000
4,465
$
500,000 -
$
700,000
$
700,000 -
$
$
900,000 -
$ 1,100,000 $ 1,600,000 -
d/
d/
16,075
$ 17,109
d/
d/
d/
d/
184,541
$ 4,986
$ 3,588
$ 1,396
1,592,214
208,560
1,729,555
243,342
22,874
1,406,670
42,069
8,329
34,002
14,492
1,500,706
53,659
3,586
2,212
1,303,398
50,110
187,032
12,449
1,128,829
46,701
1,995
44,507
900,000
1,245
$ 1,100,000
727
985,723
189,048
13,079
809,753
37,008
1,447
35,360
719,113
174,314
9,186
553,984
27,395
1,164
26,155
$ 1,600,000
$ 2,100,000
895
1,182,501
336,945
17,565
863,122
48,298
2,183
46,003
409
745,696
268,082
11,651
489,266
30,847
1,310
$ 2,100,000 -
29,263
$ 2,600,000
237
550,974
192,058
9,201
368,117
26,217
871
25,096
$ 2,600,000 -
$ 3,100,000
157
446,697
178,274
6,994
275,417
20,885
558
20,140
$ 3,100,000 -
$ 3,600,000
126
420,810
154,901
11,096
277,005
23,112
647
22,285
$ 3,600,000 -
$ 4,100,000
79
303,238
109,595
6,181
199,824
17,704
504
17,362
$ 4,100,000 -
$ 5,100,000
124
564,462
257,015
11,217
318,664
29,329
502
28,223
$ 5,100,000 -
$ 6,100,000
61
337,766
142,940
8,943
203,768
20,953
591
20,096
$ 6,100,000 -
$ 7,100,000
26
173,627
82,076
7,039
98,590
11,096
495
10,708
$ 7,100,000 -
$ 8,100,000
33
248,701
83,878
10,640
175,462
20,871
692
19,587
$ 8,100,000 -
$ 9,100,000
28
237,869
89,349
7,840
156,360
19,430
635
18,510
$ 9,100,000 -
$10,100,000
$10,100,000 Grand Total
d/
$
183,508
$
$
d/
d/
d/
d/
d/
d/
d/
d/
95
2,546,694
1,386,514
39,548
1,199,728
207,260
4,336
198,433
19,684
$14,456,088
$4,380,786
$250,157
$10,325,614
$702,207
$34,179
$660,555
Detailed figures do not necessarily add to totals due to rounding and various processing factors.
d/ Due to confidentiality rules, this information could not be reported.
* NY Taxable Base = NY Gross Estate - Deductions + Taxable Gifts
** Tax on taxable base is prior to credits and nonresident allocation.
1995-96 Estate Tax
Page 13
Table 5B. Nonresident Taxable Estates: Major Items by Gross Estate Class
(Dollar Data in Thousands)
Gross Estate Class
Greater Than
(Total
Assets)
NY Gross
Estate
Number
of
Estates
Total
NY
Deductions
Taxable
Gifts
Tax on
NY
Taxable
Base**
NY
Taxable
Base*
Total
Tax
Credits
(Tax) NY
Estate
Tax
Liability
Less Than
$
0 -
$
50,000
d/
$
50,000 -
$
150,000
24
$
150,000 -
$
300,000
91
19,667
$
300,000 -
$
500,000
89
35,905
$
500,000 -
$
700,000
77
45,650
$
700,000 -
$
900,000
51
39,962
8,462
478
31,978
1,444
35
479
$
900,000 -
$ 1,100,000
36
35,654
9,686
165
26,133
1,257
42
339
$ 1,100,000 -
$ 1,600,000
54
71,358
18,953
430
52,835
2,977
43
765
$ 1,600,000 -
$ 2,100,000
31
57,344
21,778
29
35,595
2,206
16
516
$ 2,100,000 -
$ 2,600,000
24
56,679
18,540
0
38,139
2,691
36
457
$ 2,600,000 -
$ 3,100,000
13
36,718
17,610
0
19,107
1,365
7
271
$ 3,100,000 -
$ 3,600,000
10
33,800
15,957
384
18,227
1,449
17
215
$ 3,600,000 -
$ 4,100,000
10
38,350
15,968
0
22,381
1,869
5
245
$ 4,100,000 -
$ 5,100,000
14
62,948
28,456
599
35,091
3,221
31
883
$ 5,100,000 -
$ 6,100,000
8
43,649
15,702
0
27,948
2,891
4
210
$ 6,100,000 -
$ 7,100,000
5
33,506
2,373
0
31,132
3,696
3
937
$ 7,100,000 -
$ 8,100,000
6
45,875
21,699
0
24,176
2,711
3
60
$ 8,100,000 -
$ 9,100,000
4
35,063
24,869
490
10,684
1,076
21
98
$ 9,100,000 -
$10,100,000
$10,100,000 Grand Total
d/
$
3,231
d/
$
d/
d/
0
$ 2,984
2,204
0
17,528
523
89
258
4,325
0
31,580
1,145
47
470
7,437
0
38,213
1,567
42
594
247
$
$
d/
d/
78
$ 60
d/
$
13
d/
d/
d/
d/
d/
d/
d/
d/
18
867,532
467,552
1,277
401,257
74,642
87
2,036
568
$1,582,923
$712,909
$3,852
$873,931
$107,947
$588
$8,869
Detailed figures do not necessarily add to totals due to rounding and various processing factors.
d/ Due to confidentiality rules, this information could not be reported.
* NY Taxable Base = NY Gross Estate - Deductions + Taxable Gifts
** Tax on taxable base is prior to credits and nonresident allocation.
Page 14
1995-96 Estate Tax
Table 6. Nontaxable Estates: Major Items By Gross Estate Class
(Dollar Data in Thousands)
Number of
Estates
Gross Estate Class
Greater Than
(Total Assets)
NY Gross
Estate
Total NY
Deduction
Taxable
Gifts
NY
Taxable
Base*
Tax on NY
Taxable
Base**
Total Tax
Credits
(Tax)
NY Estate
Tax Liability
Less Than
$
0
-
$
50,000
514
8,516
$ 422
$ 11,250
$ 228
$ 245
$0
$
50,000
-
$ 150,000
3,926
$
417,945
15,976
$
174,960
3,694
255,617
6,338
6,340
0
$ 150,000
-
$ 300,000
2,555
540,703
484,244
515
74,168
1,782
1,780
0
$ 300,000
-
$ 500,000
1,259
484,627
470,956
178
23,389
548
558
0
$ 500,000
-
$ 700,000
532
311,895
310,450
130
8,614
212
199
0
$ 700,000
-
$ 900,000
230
181,510
180,583
127
4,071
117
75
0
$ 900,000
-
$1,100,000
143
141,436
140,387
65
2,850
67
67
0
$1,100,000
-
$1,600,000
145
191,054
192,189
0
2,300
53
53
0
$1,600,000
-
$2,100,000
51
92,405
91,180
0
1,305
30
30
0
$2,100,000
-
$2,600,000
30
70,537
70,474
39
763
18
18
0
$2,600,000
-
$3,100,000
11
31,080
44,383
0
215
5
5
0
$3,100,000
-
$3,600,000
15
49,669
49,199
0
503
12
12
0
$3,600,000
-
$4,100,000
9
34,511
34,429
600
682
30
53
0
$4,100,000
-
$5,100,000
4
18,136
18,120
0
16
0
0
0
$5,100,000
-
$6,100,000
3
16,577
16,027
0
551
23
1
0
$6,100,000
-
$8,100,000
4
29,594
29,614
0
122
3
3
0
$8,100,000
-
6
172,545
172,644
583
661
26
28
0
Grand Total
9,437
$2,800,201
$2,488,354
$6,352
$387,078
$9,491
$9,465
$0
Resident
9,230
2,707,189
2,400,348
6,291
378,924
9,290
9,286
0
207
93,012
88,006
61
8,153
202
179
0
Nonresident
Detailed figures do not necessarily add to totals due to rounding and various processing factors.
* NY Taxable Base = NY Gross Estate - Deductions + Taxable Gifts
** Tax on taxable base is prior to credits and nonresident allocation.
1995-96 Estate Tax
Page 15
Table 7. Taxable Estates: Components of Gross Estate by Gross Estate Class
(Dollar Data in Thousands)
Real Estate
Gross Estate Class
Greater Than
Number
Stocks and Bonds
Amount
Number
Amount
Mortgages,
Notes and Cash
Number
Insurance
Amount
Number
Amount
Less Than
$
0 -
$
50,000
d/
$
50,000 -
$
150,000
628
d/
8
236
14
179
9
55,863
504
19,755
1,001
45,650
733
11,932
$
150,000 -
$
300,000
4,286
532,390
3,456
206,007
5,801
380,457
3,947
81,031
$
300,000 -
$
$
500,000 -
$
500,000
2,628
429,151
2,961
375,226
3,729
387,842
2,314
81,065
700,000
1,268
261,231
1,752
400,084
1,912
249,906
1,117
48,775
$
700,000 -
$
900,000
$
900,000 -
$ 1,100,000
704
158,834
1,096
366,279
1,119
173,958
626
36,689
393
103,086
650
299,496
658
105,603
385
31,507
$ 1,100,000 -
$ 1,600,000
489
157,697
847
527,566
820
160,521
461
43,557
$ 1,600,000 $ 2,100,000 -
$ 2,100,000
249
96,548
390
335,552
400
94,353
218
36,541
$ 2,600,000
128
57,994
240
302,226
227
43,808
107
16,308
$ 2,600,000 -
$ 3,100,000
85
51,769
151
229,897
155
39,701
70
16,941
$ 3,100,000 -
$ 3,600,000
73
49,459
123
218,999
128
49,604
59
8,564
$ 3,600,000 -
$ 4,100,000
58
40,660
81
154,714
82
30,447
43
7,927
$ 4,100,000 -
$ 5,100,000
89
55,726
129
314,014
127
41,252
67
14,327
$ 5,100,000 -
$ 6,100,000
43
42,315
67
208,167
61
16,337
27
4,542
$ 6,100,000 -
$ 7,100,000
18
21,483
29
110,903
30
17,999
12
2,172
$ 7,100,000 -
$ 8,100,000
27
29,419
37
140,856
39
16,314
13
2,599
$ 8,100,000 -
$ 9,100,000
18
17,246
27
142,200
30
15,854
11
5,901
$ 9,100,000 -
$10,100,000
$
$
$
$
86
d/
d/
19
98,453
20
18,740
4
4,649
74
324,497
102
1,884,854
103
118,479
40
15,160
Grand Total
11,272
$2,506,894
12,669
$6,335,486
16,456
$2,007,005
10,263
$470,275
Resident
10,822
2,290,203
12,297
5,698,321
16,016
1,895,911
10,039
447,532
450
216,691
372
637,165
440
111,094
224
22,743
$10,100,000 -
Nonresident
Detailed figures do not necessarily add to totals due to rounding and various processing factors.
d/ Due to confidentiality rules, this information could not be reported.
Page 16
1995-96 Estate Tax
Table 7. Taxable Estates: Components of Gross Estate by Gross Estate Class (Con’t)
(Dollar Data in Thousands)
Miscellaneous
Property
Joint Property
Gross Estate Class
Greater Than
Number
Amount
Number
Powers of
Appointment
Transfers
Amount
Number
Amount
Number
Amount
Less Than
$
0 -
$
50,000
14
477
15
64
13
122
0
$
50,000 -
$
150,000
594
$
28,317
894
$
8,511
127
$
8,171
6
$
244
0
$
150,000 -
$
300,000
3,293
221,501
5,004
69,482
504
56,668
21
1,506
$
300,000 -
$
500,000
2,245
252,089
3,387
95,692
327
57,668
19
2,718
$
500,000 -
$
700,000
1,180
172,438
1,832
78,116
207
61,315
18
4,219
$
700,000 -
$
900,000
670
115,365
1,095
69,871
128
50,477
21
5,904
$
900,000 -
$ 1,100,000
417
76,097
666
51,261
89
43,998
15
3,028
$ 1,100,000 -
$ 1,600,000
523
104,407
851
100,643
129
81,281
26
10,767
$ 1,600,000 -
$ 2,100,000
231
54,664
407
67,810
74
58,808
18
9,911
$ 2,100,000 -
$ 2,600,000
121
43,563
247
72,637
45
38,601
9
4,146
$ 2,600,000 -
$ 3,100,000
100
36,170
162
51,888
32
40,721
6
1,958
$ 3,100,000 -
$ 3,600,000
64
19,521
130
45,100
33
34,848
5
4,057
$ 3,600,000 -
$ 4,100,000
43
17,680
83
41,311
16
24,521
5
6,512
$ 4,100,000 -
$ 5,100,000
80
31,273
136
84,201
25
49,562
5
7,981
$ 5,100,000 -
$ 6,100,000
28
14,271
69
47,666
20
36,413
4
6,076
$ 6,100,000 -
$ 7,100,000
17
14,285
28
19,181
6
9,017
d/
d/
$ 7,100,000 -
$ 8,100,000
15
9,826
39
27,644
14
40,421
7
12,795
$ 8,100,000 -
$ 9,100,000
15
12,926
31
34,450
9
31,180
4
10,573
$ 9,100,000 -
$10,100,000
8
13,135
20
34,578
5
10,194
d/
d/
42
29,629
112
609,281
54
337,601
11
93,526
Grand Total
9,700
$1,267,635
15,208
$1,609,388
1,857
$1,071,589
203
$194,742
Resident
9,416
1,198,584
14,753
1,353,769
1,731
873,786
190
135,547
284
69,052
455
255,619
126
197,803
13
59,195
$10,100,000 -
Nonresident
Detailed figures do not necessarily add to totals due to rounding and various processing factors.
d/ Due to confidentiality rules, this information could not be reported.
1995-96 Estate Tax
Page 17
Table 7. Taxable Estates: Components of Gross Estate by Gross Estate Class (Con’t)
(Dollar Data in Thousands)
Schedule 1
Assets
Annuities
Gross Estate Class
Greater Than
$
Number
Amount
Number
Gross Estate**
Total of All Assets
Amount
Number
Amount
Less Than
$
50,000
d/
d/
d/
$
50,000
0 -
$
150,000
198
$ 8,477
3
d/
30
181)
1,386
186,739
$
150,000
-
$
300,000
1,243
62,646
12
192
7,446
1,611,881
$
300,000
-
$
500,000
1,052
$
500,000
-
$
700,000
626
84,244
14
(236)
4,554
1,765,460
72,653
15
311
2,289
1,349,048
$
700,000
-
$
900,000
386
48,224
$
900,000
-
$ 1,100,000
246
40,517
21
83
1,296
1,025,685
16
172
763
$ 1,100,000
-
$ 1,600,000
293
67,503
17
754,766
(83)
949
1,253,859
$ 1,600,000
-
$ 2,100,000
146
49,116
$ 2,100,000
-
$ 2,600,000
69
27,347
11
(263)
440
803,041
8
1,023
261
$ 2,600,000
-
$ 3,100,000
48
607,653
15,244
12
(875)
170
483,415
$ 3,100,000
-
$ 3,600,000
$ 3,600,000
-
$ 4,100,000
48
24,678
12
(220)
136
454,610
28
18,488
4
(672)
89
341,588
$ 4,100,000
-
$ 5,100,000
-
$ 5,100,000
42
29,107
16
(34)
138
627,410
$ 6,100,000
17
6,008
8
(381)
69
$ 6,100,000
381,415
-
$ 7,100,000
8
5,531
d/
d/
31
207,133
$ 7,100,000
-
$ 8,100,000
10
17,092
11
(2,389)
39
294,576
$ 8,100,000
-
$ 9,100,000
11
4,823
8
(2,221)
32
272,933
$ 9,100,000
-
$10,100,000
($
$
829
d/
d/
6
(1,348)
21
202,745
21
28,132
29
(26,934)
113
3,414,226
Grand Total
4,499
$610,429
228
($34,431)
20,252
$16,039,011
Resident
4,379
573,683
215
(11,248)
19,684
14,456,088
120
36,746
13
(23,184)
568
1,582,923
$10,100,000 -
Nonresident
Detailed figures do not necessarily add to totals due to rounding and various processing factors.
d/ Due to confidentiality rules, this information could not be reported.
** NY Gross Estate = Sum of the Components
Page 18
1995-96 Estate Tax
1995-96 Estate Tax
Page 19
Table 8. Nontaxable Estates: Components of Gross Estate by Gross Estate Class
(Dollar Data in Thousands)
Real Estate
Gross Estate Class
Greater Than
Stocks and Bonds
Number
Amount
Number
Amount
Mortgages,
Notes and Cash
Insurance
Number
Amount
Number
Amount
$ 1,208
Less Than
$
0
-
$
50,000
173
$ 4,537
105
$ 1,971
337
$ 5,049
206
$
50,000
-
$ 150,000
1,913
138,762
1,202
34,415
2,541
81,005
2,017
26,921
$ 150,000
-
$ 300,000
914
103,067
1,006
49,483
1,498
65,185
1,615
51,344
$ 300,000
-
$ 500,000
330
48,458
667
64,564
726
51,297
838
53,031
$ 500,000
-
$ 700,000
157
32,436
331
52,306
333
30,072
387
40,594
$ 700,000
-
$ 900,000
76
18,421
165
37,654
146
15,820
169
23,696
$ 900,000
-
$1,100,000
48
12,823
96
25,174
91
12,158
102
21,769
$1,100,000
-
$1,600,000
54
18,524
110
46,662
96
13,627
97
23,242
$1,600,000
-
$2,100,000
23
12,189
41
25,158
38
8,910
29
11,846
$2,100,000
-
$2,600,000
8
2,143
25
23,366
26
8,409
17
5,801
$2,600,000
-
$3,100,000
d/
d/
7
5,204
8
647
8
5,834
$3,100,000
-
$3,600,000
7
4,990
15
14,343
14
3,130
8
3,200
$3,600,000
-
$4,100,000
3
2,620
8
9,362
7
3,632
d/
d/
$4,100,000
-
$5,100,000
3
960
4
8,275
d/
d/
3
619
$5,100,000
-
$6,100,000
3
4,637
3
10,886
d/
d/
0
0
$6,100,000
-
$9,100,000
d/
d/
5
14,124
4
3,443
d/
d/
$9,100,000
-
3
23,165
5
75,736
5
4,566
3
345
Grand Total
3,718
$430,143
3,795
$498,682
5,875
$308,220
5,503
$273,736
Resident
3,603
415,153
3,717
481,359
5,778
300,773
5,415
268,126
115
14,990
78
17,323
97
7,448
88
5,609
Nonresident
Detailed figures do not necessarily add to totals due to rounding and various processing factors.
d/ Due to confidentiality rules, this information could not be reported.
Page 20
1995-96 Estate Tax
Table 8. Nontaxable Estates: Components of Gross Estate by Gross Estate Class (Con’t)
(Dollar Data in Thousands)
Miscellaneous
Property
Joint Property
Gross Estate Class
Greater Than
Number
Amount
Powers of
Appointment
Transfers
Number
Amount
Number
Amount
Number
Amount
Less Than
$
0
-
$
50,000
143
$ 2,417
260
$ 1,138
16
114
0
$
50,000
-
$ 150,000
1,958
96,575
2,461
20,237
169
$
9,189
8
$
429
0
$ 150,000
-
$ 300,000
1,955
208,816
1,670
28,907
85
7,248
4
170
$ 300,000
-
$ 500,000
1,096
189,683
869
33,813
48
5,910
3
352
$ 500,000
-
$ 700,000
462
95,316
409
25,326
13
3,501
d/
d/
$ 700,000
-
$ 900,000
195
50,044
184
16,282
5
150
d/
d/
$ 900,000
-
$1,100,000
123
34,976
115
11,818
5
1,604
d/
d/
$1,100,000
-
$1,600,000
115
38,932
121
20,275
9
5,949
d/
d/
$1,600,000
-
$2,100,000
33
12,364
48
8,340
4
3,060
d/
d/
$2,100,000
-
$2,600,000
21
12,723
27
5,399
d/
d/
d/
d/
$2,600,000
-
$3,100,000
8
3,442
11
12,138
d/
d/
0
0
$3,100,000
-
$3,600,000
12
8,052
14
9,996
d/
d/
d/
d/
$3,600,000
-
$4,100,000
5
3,091
9
3,204
5
9,740
0
0
$4,100,000
-
$5,100,000
3
2,165
4
4,072
0
0
0
0
$5,100,000
-
$6,100,000
d/
d/
3
348
0
0
0
0
$6,100,000
-
$9,100,000
3
4,644
5
8,276
0
0
d/
d/
$9,100,000
-
d/
d/
5
51,767
d/
d/
0
0
Grand Total
6,134
$763,272
6,215
$261,334
366
$64,495
26
$8,767
Resident
6,023
740,318
6,108
256,089
355
49,135
23
7,720
111
22,954
107
5,245
11
15,360
3
1,047
Nonresident
Detailed figures do not necessarily add to totals due to rounding and various processing factors.
d/ Due to confidentiality rules, this information could not be reported.
1995-96 Estate Tax
Page 21
Table 8. Nontaxable Estates: Components of Gross Estate by Gross Estate Class (Con’t)
(Dollar Data in Thousands)
Schedule 1
Assets
Annuities
Gross Estate Class
Greater Than
$
0
$
Number
Gross Estate**
Total of All Assets
Amount
Number
Amount
Number
211
5
($ 669)
514
Amount
Less Than
-
$
50,000
21
$
$
15,976
50,000
-
$ 150,000
402
10,419
3
(9)
3,926
417,945
$ 150,000
-
$ 300,000
599
26,999
3
(515)
2,555
540,703
$ 300,000
-
$ 500,000
421
37,953
3
(433)
1,259
484,627
$ 500,000
-
$ 700,000
217
31,649
d/
d/
532
311,895
$ 700,000
-
$ 900,000
95
18,787
d/
d/
230
181,510
$ 900,000
-
$1,100,000
76
21,099
d/
d/
143
141,436
$1,100,000
-
$1,600,000
60
22,652
d/
d/
145
191,054
$1,600,000
-
$2,100,000
18
10,039
d/
d/
51
92,405
$2,100,000
-
$2,600,000
11
6,993
0
0
30
70,537
$2,600,000
-
$3,100,000
4
1,168
0
0
11
31,080
$3,100,000
-
$3,600,000
5
2,365
0
0
15
49,669
$3,600,000
-
$4,100,000
3
672
d/
d/
9
34,511
$4,100,000
-
$5,100,000
d/
d/
0
0
4
18,136
$5,100,000
-
$6,100,000
0
0
0
0
3
16,577
$6,100,000
-
$9,100,000
d/
d/
0
0
5
37,896
$9,100,000
-
d/
d/
0
0
5
164,243
Grand Total
1,938
$193,189
18
($1,637)
9,437
$2,800,201
Resident
1,909
190,159
d/
d/
9,230
2,707,189
29
3,030
d/
d/
207
93,012
Nonresident
Detailed figures do not necessarily add to totals due to rounding and various processing factors.
d/ Due to confidentiality rules, this information could not be reported.
** NY Gross Estate = Sum of the Components
Page 22
1995-96 Estate Tax
1995-96 Estate Tax
Page 23
Table 9. Taxable Estates: Components of Total Deductions by Gross Estate Class
(Dollar Data in Thousands)
Funeral and
Administrative Expenses
Gross Estate Class
Greater Than
$
Number
Amount
Losses and Excess
Retirement Adjustment
Debts of Decedent
Number
Amount
Number
Amount
Less Than
$
50,000
27
207
14
53
0
$
50,000
0 -
$
150,000
1,363
$
13,412
837
$
2,183
14
$
78
0
$
150,000
-
$
300,000
7,376
106,218
4,917
37,121
218
2,244
$
300,000
-
$
500,000
4,508
87,890
3,226
45,264
154
3,051
$
500,000
-
$
700,000
2,270
57,343
1,710
26,747
75
2,131
$
700,000
-
$
900,000
1,281
53,977
990
23,260
48
1,471
$
900,000
-
$ 1,100,000
752
38,247
593
22,298
31
1,598
$ 1,100,000
-
$ 1,600,000
940
65,363
783
31,110
40
1,259
$ 1,600,000
-
$ 2,100,000
436
39,238
361
25,334
22
1,122
$ 2,100,000
-
$ 2,600,000
253
31,883
230
15,447
12
604
$ 2,600,000
-
$ 3,100,000
169
22,455
147
13,407
10
223
$ 3,100,000
-
$ 3,600,000
135
23,163
124
15,765
10
486
$ 3,600,000
-
$ 4,100,000
87
17,780
85
8,416
8
681
$ 4,100,000
-
$ 5,100,000
138
31,628
127
26,686
12
992
$ 5,100,000
-
$ 6,100,000
66
21,060
63
12,345
5
174
$ 6,100,000
-
$ 7,100,000
31
9,033
28
3,915
3
231
$ 7,100,000
-
$ 8,100,000
39
14,329
37
13,358
4
906
$ 8,100,000
-
$ 9,100,000
32
14,636
29
5,368
d/
d/
$ 9,100,000
-
$10,100,000
20
10,844
17
4,520
d/
d/
113
157,333
112
253,439
10
2,858
Grand Total
20,036
$816,036
14,430
$586,035
679
$20,337
Resident
19,495
763,360
14,023
507,907
641
16,696
541
52,677
407
78,127
38
3,642
$10,100,000 -
Nonresident
Detailed figures do not necessarily add to totals due to rounding and various processing factors.
d/ Due to confidentiality rules, this information could not be reported.
Page 24
1995-96 Estate Tax
Table 9. Taxable Estates: Components of Total Deductions by Gross Estate Class (Con’t)
(Dollar Data in Thousands)
Transfers to
Surviving Spouse
Gross Estate Class
Greater Than
Number
Federal Adjustments
to Marital Deduction
Amount
Number
Charitable
Deductions
Amount
Number
Amount
Less Than
$
0
-
$
50,000
0
0
0
0
0
$
50,000
-
$
150,000
15
$
353
0
$
0
71
$
226
0
$ 150,000
-
$
300,000
270
14,341
8
881
552
6,612
$ 300,000
-
$
500,000
445
55,876
d/
d/
496
16,719
$ 500,000
-
$
700,000
403
74,854
9
1,752
336
17,870
$ 700,000
-
$
900,000
329
92,376
9
1,394
234
18,447
$ 900,000
-
$ 1,100,000
235
96,241
8
154
138
23,571
$ 1,100,000
-
$ 1,600,000
327
218,234
7
744
224
35,924
$ 1,600,000
-
$ 2,100,000
178
191,327
d/
d/
111
31,551
$ 2,100,000
-
$ 2,600,000
91
135,088
d/
d/
83
26,442
$ 2,600,000
-
$ 3,100,000
79
145,367
d/
d/
48
14,400
$ 3,100,000
-
$ 3,600,000
52
110,538
d/
d/
43
20,138
$ 3,600,000
-
$ 4,100,000
35
83,334
3
2,924
23
10,608
$ 4,100,000
-
$ 5,100,000
61
192,223
3
518
43
33,861
$ 5,100,000
-
$ 6,100,000
30
100,434
0
0
26
24,663
$ 6,100,000
-
$ 7,100,000
12
58,729
d/
d/
10
6,129
$ 7,100,000
-
$ 8,100,000
17
68,572
d/
d/
19
10,061
$ 8,100,000
-
$ 9,100,000
12
64,138
0
0
20
25,911
$ 9,100,000
-
$10,100,000
9
59,143
0
0
12
17,136
48
953,998
d/
d/
66
487,294
Grand Total
2,648
$2,715,167
58
$9,637
2,555
$827,563
Resident
2,500
2,326,885
d/
d/
2,491
637,372
148
388,282
d/
d/
64
190,191
$10,100,000 -
Nonresident
Detailed figures do not necessarily add to totals due to rounding and various processing factors.
d/ Due to confidentiality rules, this information could not be reported.
1995-96 Estate Tax
Page 25
Table 9. Taxable Estates: Components of Total Deductions by Gross Estate Class (Con’t)
(Dollar Data in Thousands)
Federal Adjustment to
Charitable Deductions
Gross Estate Class
Number
Greater Than
Less Than
$
$
0 -
50,000
0
Primary
Residence
Amount
$
Total Deductions**
Number
0
0
$
Amount
Number
0
27
Amount
$
260
$
50,000
-
$
150,000
0
0
3
70
1,370
16,323
$
150,000
-
$
300,000
21
804
347
42,594
7,413
210,764
$
300,000
-
$
500,000
12
590
278
37,440
4,539
247,667
$
500,000
-
$
700,000
8
697
92
13,156
2,285
194,469
$
700,000
-
$
900,000
6
1,044
42
5,540
1,295
197,511
$
900,000
-
$ 1,100,000
d/
d/
13
1,773
763
184,000
$ 1,100,000
-
$ 1,600,000
8
2,626
8
881
949
355,898
$ 1,600,000
-
$ 2,100,000
d/
d/
4
525
440
289,859
$ 2,100,000
-
$ 2,600,000
d/
d/
5
1,100
260
210,598
$ 2,600,000
-
$ 3,100,000
0
0
d/
d/
170
195,884
$ 3,100,000
-
$ 3,600,000
3
889
d/
d/
136
170,858
$ 3,600,000
-
$ 4,100,000
d/
d/
d/
d/
89
125,563
$ 4,100,000
-
$ 5,100,000
d/
d/
d/
d/
138
285,470
$ 5,100,000
-
$ 6,100,000
d/
d/
d/
d/
69
158,642
$ 6,100,000
-
$ 7,100,000
d/
d/
0
0
31
84,449
$ 7,100,000
-
$ 8,100,000
0
0
d/
d/
39
105,577
$ 8,100,000
-
$ 9,100,000
d/
d/
0
0
32
114,218
$ 9,100,000
-
$10,100,000
0
0
d/
d/
21
91,620
$10,100,000 -
d/
d/
0
0
113
1,854,066
Grand Total
67
$19,867
798
$104,375
20,179
$5,093,695
Resident
d/
d/
794
103,797
19,629
4,380,786
Nonresident
d/
d/
4
578
550
712,909
Detailed figures do not necessarily add to totals due to rounding and various processing factors.
d/ Due to confidentiality rules, this information could not be reported.
** Total Deductions = Sum of the Components
Page 26
1995-96 Estate Tax
1995-96 Estate Tax
Page 27
Table 10. Nontaxable Estates: Components of Total Deductions by Gross Estate Class
(Dollar Data in Thousands)
Funeral and
Administrative Expenses
Gross Estate Class
Greater Than
Number
Amount
Losses and Excess
Retirement Adjustment
Debts of Decedent
Number
Amount
Number
Amount
Less Than
$
0
-
$
50,000
408
$ 2,597
207
$ 3,025
11
$
50,000
-
$ 150,000
3,465
33,268
1,868
25,585
71
$
627
23
$ 150,000
-
$ 300,000
2,158
23,955
1,005
44,464
62
4,160
$ 300,000
-
$ 500,000
1,071
14,644
480
22,830
22
1,847
$ 500,000
-
$ 700,000
466
7,297
265
13,812
7
64
$ 700,000
-
$ 900,000
207
3,391
108
7,618
5
607
$ 900,000
-
$1,100,000
134
2,586
83
6,488
3
159
$1,100,000
-
$1,600,000
113
3,624
72
8,682
4
1,002
$1,600,000
-
$2,100,000
42
1,749
38
4,630
d/
d/
$2,100,000
-
$2,600,000
28
1,914
23
2,712
d/
d/
$2,600,000
-
$3,100,000
10
13,807
8
864
d/
d/
$3,100,000
-
$3,600,000
12
618
11
794
0
0
$3,600,000
-
$4,100,000
8
743
6
109
d/
d/
$4,100,000
-
$5,100,000
4
220
4
1,134
d/
d/
$5,100,000
-
$6,100,000
3
50
3
254
0
0
$6,100,000
-
$9,100,000
5
1,078
3
409
0
0
$9,100,000
-
5
1,064
5
77,829
0
0
Grand Total
8,139
$112,606
4,189
$221,239
190
$8,721
Resident
7,980
110,362
4,101
206,271
184
7,965
159
2,244
88
14,968
6
755
Nonresident
Detailed figures do not necessarily add to totals due to rounding and various processing factors.
d/ Due to confidentiality rules, this information could not be reported.
Page 28
1995-96 Estate Tax
Table 10. Nontaxable Estates: Components of Total Deductions by Gross Estate Class (Con’t)
(Dollar Data in Thousands)
Transfers to
Surviving Spouse
Gross Estate Class
Greater Than
Number
Federal Adjustments
to Marital Deduction
Amount
Number
Charitable
Deductions
Amount
Number
Amount
Less Than
$
0
-
$
50,000
56
2,534
0
0
11
$
50,000
-
$ 150,000
984
$
92,810
6
$
2,508
213
$
6,324
320
$ 150,000
-
$ 300,000
1,948
372,757
d/
d/
201
21,614
$ 300,000
-
$ 500,000
1,145
404,487
8
300
111
26,210
$ 500,000
-
$ 700,000
488
267,940
d/
d/
52
21,111
$ 700,000
-
$ 900,000
209
155,401
3
155
27
13,411
$ 900,000
-
$1,100,000
129
119,144
d/
d/
16
12,004
$1,100,000
-
$1,600,000
127
156,640
d/
d/
24
22,108
$1,600,000
-
$2,100,000
37
62,839
d/
d/
15
21,941
$2,100,000
-
$2,600,000
21
45,993
0
0
10
19,708
$2,600,000
-
$3,100,000
9
24,233
0
0
d/
d/
$3,100,000
-
$3,600,000
12
38,369
0
0
5
9,418
$3,600,000
-
$4,100,000
6
21,937
0
0
4
11,620
$4,100,000
-
$5,100,000
3
12,365
0
0
d/
d/
$5,100,000
-
$6,100,000
d/
d/
0
0
d/
d/
$6,100,000
-
$9,100,000
3
23,135
d/
d/
d/
d/
$9,100,000
-
d/
d/
0
0
d/
d/
Grand Total
5,181
$1,887,258
21
$3,000
696
$223,439
Resident
5,063
1,834,131
d/
d/
682
208,770
118
53,127
d/
d/
14
14,670
Nonresident
Detailed figures do not necessarily add to totals due to rounding and various processing factors.
d/ Due to confidentiality rules, this information could not be reported.
1995-96 Estate Tax
Page 29
Table 10. Nontaxable Estates: Components of Total Deductions by Gross Estate Class (Con’t)
(Dollar Data in Thousands)
Federal Adjustment to
Charitable Deductions
Gross Estate Class
Greater Than
$
0
$
Primary
Residence
Total Deductions**
Number
Amount
Number
Amount
Number
d/
d/
d/
d/
429
Amount
Less Than
-
$
50,000
$
8,516
50,000
-
$ 150,000
3
$ 79
182
$13,759
3,731
174,960
$ 150,000
-
$ 300,000
d/
d/
183
17,059
2,555
484,244
$ 300,000
-
$ 500,000
0
0
7
637
1,259
470,956
$ 500,000
-
$ 700,000
d/
d/
3
325
532
310,450
$ 700,000
-
$ 900,000
0
0
0
0
230
180,583
$ 900,000
-
$1,100,000
0
0
d/
d/
143
140,387
$1,100,000
-
$1,600,000
0
0
d/
d/
145
192,189
$1,600,000
-
$2,100,000
0
0
0
0
51
91,180
$2,100,000
-
$2,600,000
d/
d/
0
0
30
70,474
$2,600,000
-
$3,100,000
0
0
0
0
11
44,383
$3,100,000
-
$3,600,000
0
0
0
0
15
49,199
$3,600,000
-
$4,100,000
0
0
d/
d/
9
34,429
$4,100,000
-
$5,100,000
0
0
0
0
4
18,120
$5,100,000
-
$6,100,000
0
0
0
0
3
16,027
$6,100,000
-
$9,100,000
0
0
0
0
5
37,915
$9,100,000
-
0
0
0
0
5
164,342
Grand Total
4
$233
376
$31,799
9,157
$2,488,354
Resident
4
233
376
31,799
8,968
2,400,348
Nonresident
0
0
0
0
189
88,006
Detailed figures do not necessarily add to totals due to rounding and various processing factors.
d/ Due to confidentiality rules, this information could not be reported.
** Total Deductions = Sum of the Components
Page 30
1995-96 Estate Tax
1995-96 Estate Tax
Page 31
Table 11. Taxable Estates: Components of Total Credits by Net** Estate Class
(Dollar Data in Thousands)
Gift Tax Payable
on Post 1982 Gifts
Net Estate Class
Greater Than
$
Number
Agricultural Exemption and
Closely Held
Business Credit***
Unified Credit
Amount
Number
Amount
Number
Amount
Less Than
0 -
$
50,000
22
147
29
32
d/
$
50,000
-
$
150,000
99
331
1,386
3,315
0
$
150,000
-
$
300,000
261
625
7,428
7,616
d/
d/
$
300,000
-
$
500,000
161
591
4,551
2,637
12
89
$
500,000
-
$
700,000
96
474
2,286
1,203
7
99
$
700,000
-
$
900,000
70
494
1,294
676
7
117
$
900,000
-
$ 1,100,000
37
319
763
405
d/
d/
$ 1,100,000
-
$ 1,600,000
63
729
949
488
6
112
$ 1,600,000
-
$ 2,100,000
36
494
440
225
d/
d/
$ 2,100,000
-
$ 2,600,000
20
348
261
139
d/
d/
$ 2,600,000
-
$ 3,100,000
23
302
170
86
3
75
$ 3,100,000
-
$ 3,600,000
26
558
136
68
d/
d/
$ 3,600,000
-
$ 4,100,000
16
255
89
45
d/
d/
$ 4,100,000
-
$ 5,100,000
29
386
138
69
d/
d/
$ 5,100,000
-
$ 6,100,000
13
450
69
36
d/
d/
$ 6,100,000
-
$ 7,100,000
10
393
31
16
d/
d/
$ 7,100,000
-
$ 8,100,000
14
676
39
20
0
0
$ 8,100,000
-
$ 9,100,000
14
581
32
16
0
0
$ 9,100,000
-
$10,100,000
6
556
21
11
d/
d/
42
3,940
113
59
3
407
Grand Total
1,058
$12,651
20,225
$17,161
62
$1,141
Resident
1,013
12,489
19,658
16,780
d/
d/
45
162
567
380
d/
d/
$10,100,000 -
Nonresident
$
$
d/
$
0
Detailed figures do not necessarily add to totals due to rounding and various processing factors.
d/ Due to confidentiality rules, this information could not be reported.
** Since liability is determined from net estate and credits are directly applicable to liability, we deemed to classify credits by net estate.
*** Due to confidentiality, these credits were combined.
Page 32
1995-96 Estate Tax
Table 11. Taxable Estates: Components of Total Credits by Net** Estate Class
(Dollar Data in Thousands) (Con’t)
Credit on
Prior Transfers
Net Estate Class
Greater Than
$
Number
Pre-1983 Gift
Tax Credit
Amount
Total Credits
Number
Amount
Number
Amount
Less Than
0 -
$
50,000
d/
d/
0
$ 0
29
$
50,000
-
$
150,000
d/
d/
d/
d/
1,386
3,648
$
150,000
-
$
300,000
40
$ 143
d/
d/
7,428
8,418
$
300,000
-
$
500,000
d/
d/
d/
d/
4,551
3,633
$
500,000
-
$
700,000
35
257
3
3
2,286
2,037
$
700,000
-
$
900,000
20
193
d/
d/
1,294
1,481
$
900,000
-
$ 1,100,000
36
424
d/
d/
763
1,207
$ 1,100,000
-
$ 1,600,000
46
896
3
1
949
2,226
$ 1,600,000
-
$ 2,100,000
24
526
d/
d/
440
1,326
$ 2,100,000
-
$ 2,600,000
16
420
d/
d/
261
907
$ 2,600,000
-
$ 3,100,000
7
101
0
0
170
564
$ 3,100,000
-
$ 3,600,000
d/
d/
3
3
136
664
$ 3,600,000
-
$ 4,100,000
3
209
d/
d/
89
509
$ 4,100,000
-
$ 5,100,000
6
77
d/
d/
138
533
$ 5,100,000
-
$ 6,100,000
3
28
d/
d/
69
595
$ 6,100,000
-
$ 7,100,000
d/
d/
0
0
31
497
$ 7,100,000
-
$ 8,100,000
0
0
0
0
39
695
$ 8,100,000
-
$ 9,100,000
3
59
0
0
32
656
$ 9,100,000
-
$10,100,000
d/
d/
0
0
21
567
d/
d/
d/
d/
113
4,423
Grand Total
307
$3,785
20
$29
20,225
$34,767
Resident
299
3,739
20
29
19,658
34,179
8
46
0
0
567
588
$10,100,000 -
Nonresident
$
182
Detailed figures do not necessarily add to totals due to rounding and various processing factors.
d/ Due to confidentiality rules, this information could not be reported.
** Since liability is determined from net estate and credits are directly applicable to liability, we deemed to classify credits by net estate.
*** Due to confidentiality, these credits were combined.
1995-96 Estate Tax
Page 33
Table 12. Nontaxable Estates: Components of Total Credits by Net** Estate Class
(Dollar Data in Thousands)
Gift Tax Payable
on Post 1982 Gifts
Net Estate Class
Greater Than
Agricultural Exemption and
Closely Held
Business Credit***
Unified Credit
Number
Amount
Number
Amount
Number
Amount
Less Than
$
0
-
$
50,000
5
$ 23
419
$ 222
0
$ 0
$
50,000
-
$ 150,000
9
250
3,221
6,083
d/
d/
$ 150,000
-
$ 300,000
8
62
1,207
1,688
d/
d/
$ 300,000
-
$ 500,000
d/
d/
446
544
d/
d/
$ 500,000
-
$ 700,000
d/
d/
178
187
d/
d/
$ 700,000
-
$ 900,000
d/
d/
67
74
0
0
$ 900,000
-
$1,100,000
0
0
49
67
0
0
$1,100,000
-
$1,600,000
0
0
48
53
0
0
$1,600,000
-
$2,100,000
0
0
26
30
0
0
$2,100,000
-
$2,600,000
0
0
15
18
0
0
$2,600,000
-
$3,100,000
0
0
7
5
0
0
$3,100,000
-
$3,600,000
0
0
7
12
0
0
$3,600,000
-
$4,100,000
d/
d/
5
1
d/
d/
$4,100,000
-
d/
d/
8
7
d/
d/
29
$426
5,703
$8,991
3
$18
Grand Total
Resident
d/
d/
5,579
8,816
3
18
Nonresident
d/
d/
124
174
0
0
Detailed figures do not necessarily add to totals due to rounding and various processing factors.
d/ Due to confidentiality rules, this information could not be reported.
** Since liability is determined from net estate and credits are directly applicable to liability, we deemed to classify credits by net estate.
*** Due to confidentiality rules, these credits were combined.
Page 34
1995-96 Estate Tax
Table 12. Nontaxable Estates: Components of Total Credits by Net** Estate Class
(Dollar Data in Thousands) (Con’t)
Credit on
Prior Transfers
Net Estate Class
Greater Than
Pre-1983 Gift
Tax Credit
Number
Amount
Total Credits
Number
Amount
Number
Amount
Less Than
$
0
-
$
50,000
0
$ 0
0
$0
419
$ 245
$
50,000
-
$ 150,000
d/
d/
0
0
3,221
6,340
$ 150,000
-
$ 300,000
d/
d/
0
0
1,207
1,780
$ 300,000
-
$ 500,000
d/
d/
0
0
447
558
$ 500,000
-
$ 700,000
0
0
0
0
178
199
$ 700,000
-
$ 900,000
0
0
0
0
67
75
$ 900,000
-
$1,100,000
0
0
0
0
49
67
$1,100,000
-
$1,600,000
0
0
0
0
48
53
$1,600,000
-
$2,100,000
0
0
0
0
26
30
$2,100,000
-
$2,600,000
0
0
0
0
15
18
$2,600,000
-
$3,100,000
0
0
0
0
7
5
$3,100,000
-
$3,600,000
0
0
0
0
7
12
$3,600,000
-
$4,100,000
0
0
0
0
5
53
$4,100,000
-
0
0
0
0
8
31,685
8
$30
0
$0
5,704
$9,465
Resident
8
30
0
0
5,580
9,286
Nonresident
0
0
0
0
124
179
Grand Total
Detailed figures do not necessarily add to totals due to rounding and various processing factors.
d/ Due to confidentiality rules, this information could not be reported.
** Since liability is determined from net estate and credits are directly applicable to liability, we deemed to classify credits by net estate.
1995-96 Estate Tax
Page 35
Table 13A. Resident Taxable
Estates with Non-New York
Property - Allocated New York
Gross Estate Distributed by
Gross Estate Class
(Dollar Data in Thousands)
Greater Than
$
(Total Assets)
NY Gross Estate
Allocated NY
Gross Estate
NY Allocation
Percentage
Less Than
0
-
50,000
0
0
0.00
50,000
-
150,000
26
3,494
2,913
83.37
150,000
-
300,000
224
49,650
41,737
84.06
300,000
-
500,000
252
98,279
82,757
84.21
500,000
-
700,000
184
108,456
95,360
87.93
700,000
-
900,000
116
92,135
80,208
87.06
$
$
0
$
900,000
-
1,100,000
80
78,925
72,148
91.41
1,100,000
-
1,600,000
99
133,367
120,668
90.48
1,600,000
-
2,100,000
69
126,591
113,120
89.36
2,100,000
-
2,600,000
36
83,534
76,463
91.54
2,600,000
-
3,100,000
23
65,993
60,630
91.87
3,100,000
-
3,600,000
17
56,782
52,375
92.24
3,600,000
-
4,100,000
19
72,491
67,338
92.89
4,100,000
-
5,100,000
32
144,661
133,612
92.36
5,100,000
-
6,100,000
13
73,346
69,252
94.42
6,100,000
-
7,100,000
7
46,742
42,094
90.06
7,100,000
-
8,100,000
9
69,621
64,257
92.29
8,100,000
-
9,100,000
9
75,567
66,854
88.47
9,100,000
-
$10,100,000
$10,100,000 Grand Total
Page 36
Number
of Estates
Gross Estate Class
6
57,736
54,746
94.82
34
1,349,270
1,273,487
94.38
1,255
$2,786,638
$2,570,020
92.23
1995-96 Estate Tax
Table 13B. Nonresident
Taxable Estates with NonNew York Property - Allocated
New York Gross Estate
Distributed by Gross Estate
Class
(Dollar Data in Thousands)
Number
of Estates
Gross Estate Class
Greater Than
$
(Total Assets)
NY Gross Estate
Allocated NY
Gross Estate
NY Allocation
Percentage
Less Than
0
-
50,000
d/
50,000
-
$
150,000
19
d/
d/
0.00
2,569
$ 1,896
73.81
150,000
-
300,000
82
17,800
9,516
53.46
300,000
-
500,000
-
500,000
78
31,251
10,592
33.89
700,000
72
42,501
14,464
700,000
-
34.03
900,000
48
37,782
10,403
27.53
$
900,000
-
1,100,000
35
34,603
8,987
25.97
1,100,000
-
1,600,000
49
64,987
12,834
19.75
1,600,000
-
2,100,000
30
55,322
10,115
18.28
2,100,000
-
2,600,000
24
56,679
11,248
19.85
2,600,000
-
3,100,000
12
33,623
7,277
21.64
3,100,000
-
3,600,000
10
33,800
7,332
21.69
3,600,000
-
4,100,000
8
30,350
1,915
6.31
4,100,000
-
5,100,000
12
53,911
8,224
15.25
5,100,000
-
6,100,000
8
43,649
3,889
8.91
6,100,000
-
7,100,000
4
26,612
1,200
4.51
7,100,000
-
8,100,000
6
45,875
1,487
3.24
8,100,000
-
9,100,000
4
35,063
1,680
4.79
9,100,000
-
$10,100,000
$10,100,000 Grand Total
d/
d/
d/
0.00
18
867,532
49,806
5.74
522
$1,515,943
$173,796
11.46
d/ Due to confidentiality rules, this information could not be reported.
1995-96 Estate Tax
Page 37
Page 38
1995-96 Estate Tax
Appendix A: Glossary of Key Terms
Adjusted Gross
Estate
The federal gross estate after certain minor additions and subtractions. It
includes assets without a situs in New York.
Processed Return
A Form ET-90 which the Tax Department has processed and to which it
has made minor adjustments, usually to correct math and entry errors. In
nearly all cases, the computed liability is final. However, a small portion
of processed returns might eventually be subject to audit.
Form ET-90
The basic estate tax return, with supporting schedules, used by estates of
decedents who died after May 25, 1990.
Gross Estate
Federal gross estate minus real and tangible personal property having an
actual situs outside New York, plus/minus certain other minor
modifications.
Minimum Tax
The tax computed using the federal credit for state death taxes. If it
exceeds otherwise-computed tax, it becomes the estate’s tax liability.
Net Estate
Taxable estate plus adjusted taxable gifts. This is also known as the
preliminary tentative tax base, to which the tax rate schedule is applied.
Nonresident Estate
The estate of a decedent who at death was not a resident of New York.
Resident Estate
The estate of a decedent who at death was a resident of New York.
Residency is determined by domicile.
Surviving Spouse
Where the decedent has a surviving spouse, all transfers to the spouse are
exempt from tax.
1995-96 Estate Tax
Page A-1
Taxable Base
The sum of the adjusted taxable estate plus adjusted taxable gifts.
Taxable base is used to determine tax with the tax rate schedule.
However, the result, after subtracting the unified credit does not equal
tax before credits, because it is then multiplied by the ratio of New York
gross estate to New York adjusted gross estate to ensure that non-New
York assets are not taxed.
Unified Credit
A credit which offsets tax dollar for dollar and creates an exemption
level below which no tax is due. It decreases dollar for dollar with tax
liability to a $500 minimum.
Page A-2
1995-96 Estate Tax
Appendix B: New York State Estate Tax
Return ET-90
1995-96 Estate Tax
Page B-1
Page B-2
1995-96 Estate Tax
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