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Form Et 706 – Fill Out and Use This PDF

The New York State Estate Tax Return, known as Form ET-706, is a document required by the Department of Taxation and Finance for estates of individuals who passed away on or after January 1, 2019. It encompasses detailed information such as the decedent's personal data, estate details, deductions, taxable gifts, and executor information, which are crucial for accurately assessing the estate tax liabilities within New York State. For those navigating the complexities of estate settlements, understanding and filing this form correctly is essential.

To ensure compliance and streamline the filing process, click the button below to find out more about completing the ET-706 form.

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Form Et 706 PDF Details

The New York State Estate Tax Return, identified by the form number ET-706, plays a crucial role for estates of individuals who passed away on or after January 1, 2019. This form is issued by the Department of Taxation and Finance and serves multiple purposes, including the declaration of the decedent's last name, first name, middle initial, social security number, and address at the time of death. Moreover, it encompasses vital information such as the date of death, details regarding the decedent's residency status in New York State at the time of death, and the potential attachment of a death certificate. It also covers details pertaining to any trusts created or funded by the will, the option to attach a Power of Attorney, specifics about the executor, and any litigation the decedent was involved in at the time of death. Aside from personal and trust information, the form delves into financial specifics such as installment payments for tax on closely held businesses, lien release forms, and the necessity of filing a federal estate tax return alongside. Furthermore, it asks about making QTIP marital elections, which is essential for certain estate planning strategies. The form meticulously breaks down the computation of the taxable estate for New York State purposes, adjustments due to federal audit changes, and the detailed listing of the estate's assets and liabilities both within and outside New York State, ensuring a comprehensive framework for settling the decedent's estate tax obligations.

Question	Answer
Form Name	Form Et 706
Form Length	6 pages
Fillable?	No
Fillable fields	0
Avg. time to fill out	1 min 30 sec
Other names	form et 706 taxation, 706 tax state form, ny estate nys, form et 706 tax rates

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Department of Taxation and Finance

For office use only

New York State Estate Tax Return ET-706

For an estate of an individual who died on or after January 1, 2019

(9/19)

Amended return

Federal audit changes

Decedent’s last name

First name

Middle initial

Social Security number (SSN)

Address of decedent at time of death (number and street)

Date of death

If copy of death

certificate is

attached, mark

an X in the box

City

State

ZIP code

County of residence

If the decedent was a nonresident of New York State (NYS) on the date of death, mark an X in the box and attach

a completed Form ET-141, New York State Estate Tax Domicile Affidavit.

Employer identification

Name and EIN of any trusts created or funded by the will

number (EIN) of the estate

Power of Attorney – Mark an X in the box if Form ET-14, Estate Tax Power of Attorney, is attached (see instructions)

If Form ET-14 was previously provided, indicate which form it was attached to and the date it was submitted:

Form

Date

Executor – If you are submitting Letters Testamentary or Letters of Administration with this form, indicate in the

box the type of letters. Enter L if regular, LL if limited letters. If you are not submitting letters with this form, enter N.

Surrogate’s court – If a proceeding for probate or administration

has commenced in a surrogate’s court in NYS, enter county.

Attorney’s or authorized representative’s last name

First name

Executor’s last name

First name

In care of (firm’s name)

If more than one executor, mark

Email address of executor

an X in the box (see instr.)

Address of attorney or authorized representative

Address of executor

City

State

ZIP code

City

State

ZIP code

PTIN or SSN of attorney or authorized rep.

Telephone number

Social Security number of executor

Telephone number

(

)

(

)

If the decedent possessed a cause of action or was a plaintiff in any litigation at the time of death, mark an X in the

box and complete Schedule F (see Form ET-706-I, Instructions for Form ET-706)

Installment payments of tax for closely held business – Do you elect to pay the tax in installments as described

in IRC § 6166 (NYS Tax Law § 997)? If YES, attach Form ET-415 (see Form ET-706-I)

Yes

If releases of lien are needed, attach Form(s) ET-117 (see Form ET-706-I) and enter the number of counties here

a Is a federal estate tax return (either federal Form 706 or Form 706-NA) required to be filed with the IRS (see Form ET-706-I)?....

Yes

Note: You must submit a completed federal estate tax return with this return, even when you are not required to file a federal return with the Internal Revenue Service (IRS).

bAre you making a qualified terminable interest property (QTIP) marital election? ...................................................

If you marked YES above, the QTIP must be listed on Schedule M, section A1 of federal Form 706 you are attaching to this filing.

Provide the Social Security number of the surviving spouse

Yes

computation	1	Taxable estate for New York State (from Schedule A, Part 1, line 18, or Part 2, line 33)	1.

	2	New York State estate tax (from tax table on page 6)	2.

	3	Applicable credit (see instructions)	3.

	4	Tax after credit (subtract line 3 from line 2)	4.
	5	Net prior tax payments to New York State (attach a Schedule of dates and amounts; see instructions)	5.

Tax	6	If line 5 is less than line 4, subtract line 5 from line 4. This is the amount you owe	6.

	7	If line 5 is greater than line 4, subtract line 4 from line 5. This is the amount to be refunded to you	7.

Executor, attorney, and preparer, be sure to sign this return on page 6.

02200109190094

Page 2 of 6 ET-706 (9/19)

Schedule A – Computation of New York State taxable estate

Part 1 – Resident

8	Amount from federal Form 706, page 3, part 5, line 13	8.
9	Property with a location outside New York State (from Schedule B)
10	Subtotal (subtract line 9 from line 8)
11	..................................Amount determined under § 957 (relating to Powers of Appointment prior to 1930)	11.
12	Taxable gifts (from Schedule D; see instructions for important changes)
13	...Includible QTIP for New York State not included in the amount reported on line 8 (see instructions)	13.
14	Total gross estate for New York State (add lines 10 through 13)

15Total allowable federal deductions (from federal Form 706, page 3,

part 5, line 24)

15.

16Federal deductions not allowed for New York State purposes (from

	Schedule E, line 50)	16.
17	Allowable federal deductions for NYS purposes (subtract line 16 from line 15)		17.
18	Taxable estate for New York State (subtract line 17 from 14)		18.

Part 2 – Nonresident
19	Amount from federal Form 706, page 3, part 5, line 13; or Form 706-NA, page 2, Schedule B, line 1 19.
20	Property with a location outside New York State (from Schedule B) ...	20.
21	Intangible property included in line 19 amount	21.
22	Non-taxable estate for New York State purposes (add lines 20 and 21)	................................................	22.
23	..Amount of federal gross estate subject to New York State estate taxes (subtract line 22 from line 19)		23.
24	..................................Amount determined under § 957 (relating to Powers of Appointment prior to 1930)		24.
25	Taxable gifts (from Schedule D; see instructions for important changes)		25.
26	....Includible QTIP for New York State not included in the amount reported on line 19 (see instructions)		26.
27	Total gross estate for New York State (add lines 23 through 26)		27.

28Total allowable federal deductions (from federal Form 706, page 3,

part 5, line 24; or Form 706-NA, page 2, Schedule B, line 8)

28.

29Federal deductions not allowed for New York State purposes (from

Schedule B – Property located outside New York State

List below each item of real and tangible personal property located outside New York State that is included in the federal gross estate. Include the item number, the schedule of federal Form 706 or Form 706-NA on which it was reported, and the reported value of the property. (Submit additional sheets if necessary; see instructions)

Item number

Description

Value

Total amounts from all additional sheets................................................................................................................................

Total value of property located outside New York State(include totals from all additional sheets). Enter here and on

Schedule A, line 9 or 20. ....................................................................................................................................................

02200209190094

ET-706 (9/19) Page 3 of 6

Schedule C – New York property of a nonresident individual

List below each item of real and tangible personal property located within New York State. Include the item number, the schedule of federal Form 706 or Form 706-NA on which it was reported, and the reported value of the property. (Submit additional sheets if necessary;

see instructions)

Item number	Description	Value














Total amounts from all additional sheets	...............................................................................................................................

...........................................Total value of New York property of nonresident individual (include totals from all additional sheets)

Schedule D – Taxable gifts

List below all taxable gifts. (See instructions; submit additional sheets if necessary.)

Date gift made	Description of property gifted (including location)	Taxable amount of gift













Total amounts from all additional sheets	...............................................................................................................................

. ...............Total taxable amount of gifts (include totals from all additional sheets) . Enter here and on Schedule A, line 12 or 25

02200309190094

Page 4 of 6 ET-706 (9/19)

Schedule E – Computation of allowable New York State deductions

Part 1 – Resident

Description of	A	B	C	D
allowable federal	Total on federal return	Deductions directly	Deductions directly	Deductions not directly
deductions	Total on federal return	Deductions directly	Deductions directly	Deductions not directly
deductions		related to property	related to property	related to property inside
		related to property	related to property	related to property inside
		inside New York State	outside	or outside New York State
		or intangible personal	New York State*	or to intangible personal
		property		property (deductions to be
				allocated)

34Schedule J – funeral expenses and expenses incurred in administering property subject to claims

35Schedule K – debts of the decedent

36Schedule K – mortgages and liens

37Add lines 34, 35, and 36

38Allowable amount of deductions from line 37 above

39Schedule L – net losses during administration

40Schedule L – expenses incurred in administering property not subject to claims

41Schedule M – bequests, etc., to surviving spouse

42Schedule O – charitable, public, and similar gifts and bequests

43Total (add lines 38 through 42)

* If you have an amount entered in column C, attach a statement indicating the item number of the property listed on Schedule B that the deduction is directly related to if the location of the deduction is not clearly labeled on federal Schedules J through O.

44	Property outside New York State (from Schedule A, Part 1, line 9)	44.
45	Federal gross estate (from Schedule A, Part 1, line 8)	45.
46	Allocation percentage (divide line 44 by line 45; enter the percent as a decimal rounded to four places)	46.

47Deductions not directly related to property inside or outside New York State or intangible

	personal property (from column D, line 43)	47.
48	Deductions allocated to property outside New York State (multiply line 46 and line 47)	48.
49	Deductions directly related to property outside New York State (from column C, line 43)	49.

50Federal deductions not allowed for New York State purposes (add lines 48 and 49; also enter on

Schedule A, Part 1, line 16)

50.

02200409190094

ET-706 (9/19) Page 5 of 6

Schedule E – Computation of allowable New York State deductions (continued)

Part 2 – Nonresident

Description of	A	B	C	D
allowable federal	Total on federal return	Deductions directly	Deductions directly	Deductions not directly
deductions	Total on federal return	Deductions directly	Deductions directly	Deductions not directly
deductions		related to property inside	related to property	related to property inside
		related to property inside	related to property	related to property inside
		New York State	outside New York State	or outside New York State
			or intangible personal	or to intangible personal
			property*	property (deductions to be
				allocated)

51Schedule J – funeral expenses and expenses incurred in administering property subject to claims

52Schedule K – debts of the decedent

53Schedule K – mortgages and liens

54Add lines 51, 52, and 53

55Allowable amount of deductions from line 54 above

56Schedule L – net losses during administration

57Schedule L – expenses incurred in administering property not subject to claims

58Schedule M – bequests, etc., to surviving spouse

59Schedule O – charitable, public, and similar gifts and bequests

60Total (add lines 55 through 59)

61	Property outside New York State and intangible personal property (from Schedule A, Part 2, line 22) ....	61.
62	Federal gross estate (from Schedule A, Part 2, line 19)	62.
63	Allocation percentage (divide line 61 by line 62; enter the percent as a decimal rounded to four places)	63.

64Deductions not directly related to property inside or outside New York State or intangible personal

property (from column D, line 60)

64.

65Deductions allocated to property outside New York State and intangible personal property (multiply

line 63 and line 64)

65.

66Deductions directly related to property outside New York State and intangible personal property

(from column C, line 60)

66.

67Federal deductions not allowed for New York State purposes (add lines 65 and 66; also enter on

Schedule A, Part 2, line 29)

67.

02200509190094

a public accountant enrolled with the NYS Education Department

Page 6 of 6 ET-706 (9/19)

Schedule F – Description of litigation or cause of action

In the area provided below, describe any litigation in which the decedent was a plaintiff or litigation that is pending or contemplated on behalf of the decedent. Include the actual or estimated values of such litigation (see Litigation information in instructions).

Tax table

If the New York taxable estate is:
over		but not over	The tax is:

$	0	$ 500,000			3.06%	of taxable estate
	500,000	1,000,000	$ 15,300	plus	5.0%	of the excess over				$ 500,000
	1,000,000	1,500,000	40,300	plus	5.5%	"	"	"	"	1,000,000
	1,500,000	2,100,000	67,800	plus	6.5%	"	"	"	"	1,500,000
	2,100,000	2,600,000	106,800	plus	8.0%	"	"	"	"	2,100,000
	2,600,000	3,100,000	146,800	plus	8.8%	"	"	"	"	2,600,000
	3,100,000	3,600,000	190,800	plus	9.6%	"	"	"	"	3,100,000
	3,600,000	4,100,000	238,800	plus	10.4%	"	"	"	"	3,600,000
	4,100,000	5,100,000	290,800	plus	11.2%	"	"	"	"	4,100,000
	5,100,000	6,100,000	402,800	plus	12.0%	"	"	"	"	5,100,000
	6,100,000	7,100,000	522,800	plus	12.8%	"	"	"	"	6,100,000
	7,100,000	8,100,000	650,800	plus	13.6%	"	"	"	"	7,100,000
	8,100,000	9,100,000	786,800	plus	14.4%	"	"	"	"	8,100,000
	9,100,000	10,100,000	930,800	plus	15.2%	"	"	"	"	9,100,000
	10,100,000		1,082,800	plus	16.0%	"	"	"	"	10,100,000

This return must be filed within nine months after the date of death unless an extension of time to file the return has been granted.

Mail your return and payment (if any) to:

NYS ESTATE TAX

PROCESSING CENTER

PO BOX 15167

ALBANY NY 12212-5167

If not using U.S. Mail, see Publication 55, Designated Private Delivery Services.

Reminders: Sign this return. If there is an amount due on line 6, make check payable in U.S. funds to COMMISSIONER OF TAXATION AND FINANCE. Attach a completed copy of the federal estate tax return along with any accompanying schedules and supplementary information.

If an attorney or authorized representative is listed on this return, he or she must complete the following declaration.

I declare that I have agreed to represent the executor(s) for the above estate, that I am authorized to receive tax information regarding

the estate, and I am (mark an X in all that apply):

an attorney

a certified public accountant

an enrolled agent

Signature of attorney or authorized representative

Date

Email address of attorney

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and

belief, it is true, correct, and complete. Furthermore, I/we, as executor(s) for this estate, authorize the person, if any, named as my/our representative on this return to receive confidential tax information regarding this estate.

Signature of executor		Date		Signature of co-executor				Date

Print name of preparer other than executor	Signature of preparer other than executor				Preparer’s PTIN or SSN		Preparer’s NYTPRIN

Address of preparer	City		State ZIP code		Date	Email address of preparer

02200609190094

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Step no. 1 in filling in 706 form tax fillable

2. Immediately after this array of blank fields is completed, go on to type in the relevant details in these: In care of firms name, If more than one executor mark an, Email address of executor, Address of attorney or authorized, Address of executor, City, State, ZIP code, City, State, ZIP code, Telephone number, Social Security number of executor, PTIN or SSN of attorney or, and Telephone number.

Social Security number of executor, State, and City in 706 form tax fillable

3. This next part is generally simple - fill out all of the empty fields in n o i t a t u p m o c x a T, Taxable estate for New York State, and Executor attorney and preparer be to conclude the current step.

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Stage no. 4 of submitting 706 form tax fillable

5. Because you near the end of this form, there are a few more things to undertake. Mainly, Part Nonresident Amount from, Schedule E line, part line or Form NA page, Schedule B Property located, List below each item of real and, Item number, Description, Value, and Total amounts from all additional must all be done.

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Schedule E, line 67)

Allowable federal deductions for NYS purposes (subtract line 29 from line 28)

Tentative New York State taxable estate (subtract line 30 from line 27)

Works of art on loan in New York State

Taxable estate for New York State (subtract line 32 from line 31)