Part 1 Computation of Tax
Part 2 Returns and Payment of Tax
Part 3 Liens, Discharges and Surrogate’s Court
Part 4 Procedure and Administration

Terms Used In New York Laws > Tax > Article 26

  • Adjusted gross estate: The gross estate, less funeral expenses, expenses of estate administration during probate, debts of the estate, and casualty losses suffered during estate administration.
  • agency: shall mean any officer, board, commission, department, or other agency of the municipality, or the authority or any other public authority, designated by the local legislative body to carry out the functions vested in the agency under this article or delegated to the agency by the local legislative body in order to carry out the purposes and provisions of this article. See N.Y. Public Housing Law 211
  • Clerical and other worker: includes all employees not included in subdivisions four, five and six of this section, except any person employed in a bona fide executive, administrative or professional capacity whose earnings are in excess of nine hundred dollars a week. See N.Y. Labor Law 190
  • Codicil: An addition, change, or supplement to a will executed with the same formalities required for the will itself.
  • Construction: includes construction of new buildings, acquisition of existing buildings, and expansion, remodeling, alteration, and renovation of existing buildings, and initial equipment of such new, newly acquired, expanded, remodeled, altered or renovated buildings;

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  • Docket: A log containing brief entries of court proceedings.
  • Dower: A widow
  • Employee: means any person employed for hire by an employer in any employment. See N.Y. Labor Law 190
  • Employer: includes any person, corporation, limited liability company, or association employing any individual in any occupation, industry, trade, business or service. See N.Y. Labor Law 190
  • En banc: In the bench or "full bench." Refers to court sessions with the entire membership of a court participating rather than the usual quorum. U.S. courts of appeals usually sit in panels of three judges, but may expand to a larger number in certain cases. They are then said to be sitting en banc.
  • executor: means the executor or administrator of the estate of the decedent, or, if there is no executor or administrator appointed, qualified and acting, then any person or entity in actual or constructive possession of any property of the decedent. See N.Y. Tax Law 951-A
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Gross estate: The total fair market value of all property and property interests, real and personal, tangible and intangible, of which a decedent had beneficial ownership at the time of death before subtractions for deductions, debts, administrative expenses, and casualty losses suffered during estate administration.
  • Intangible property: Property that has no intrinsic value, but is merely the evidence of value such as stock certificates, bonds, and promissory notes.
  • Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
  • Joint resolution: A legislative measure which requires the approval of both chambers.
  • Life estate: A property interest limited in duration to the life of the individual holding the interest (life tenant).
  • Lineal descendant: Direct descendant of the same ancestors.
  • Manual worker: means a mechanic, workingman or laborer. See N.Y. Labor Law 190
  • Marital deduction: The deduction(s) that can be taken in the determination of gift and estate tax liabilities because of the existence of a marriage or marital relationship.
  • Month: means a calendar month or a regularly established fiscal month. See N.Y. Labor Law 190
  • Non-profitmaking organization: means a corporation, unincorporated association, community chest, fund or foundation organized and operated exclusively for religious, charitable or educational purposes, no part of the net earnings of which inure to the benefit of any private shareholder or individual. See N.Y. Labor Law 190
  • occupancy date: shall mean the date defined in the contract for a loan pursuant to this article between the owner of an existing multiple dwelling and a municipality as the date upon which such multiple dwelling is to be deemed ready for occupancy, or if such term is not defined in such contract, the date of issuance of the temporary certificate of occupancy. See N.Y. Public Housing Law 211
  • person: includes an individual, a trustee, a corporation, an association, a joint-stock company, a partnership, a limited liability company and a bank. See N.Y. Tax Law 951-A
  • persons interested in the estate: shall include all persons who may be entitled to receive or who have received any property or interest which is required to be included in the gross estate of a decedent, or any benefit whatsoever with respect to any such property or interest, whether under a will, or intestacy, or by reason of any of the transfers,



    interests, rights, powers and relinquishments of powers which are required to be included in the gross estate. See N.Y. Tax Law 951-A

  • persons or families of low income: shall mean "persons of low income" or "families of low income" as defined in section three of this chapter, whose probable aggregate annual income during the period of occupancy does not exceed six times the rental (including the value or cost to them of heat, light, water and cooking fuel) of dwelling units occupied by such persons or families in existing multiple dwellings aided by a loan pursuant to this article, except that in the case of persons or families with three or more dependents, such ratio shall not exceed seven to one, and except further that the income limitations prescribed by this paragraph shall be subject to the provisions of subdivision two of section two hundred thirteen of this chapter. See N.Y. Public Housing Law 211
  • Railroad worker: means any person employed by an employer who operates a steam, electric or diesel surface railroad or is engaged in the sleeping car business. See N.Y. Labor Law 190
  • Remainderman: One entitled to the remainder of an estate after a particular reserved right or interest, such as a life tenancy, has expired.
  • Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
  • tangible personal property: means corporeal personal property, including money held for numismatic purposes, and does not include deposits in banks, mortgages, debts, receivables, shares of stock, bonds, notes, credits, evidences of an interest in property, evidences of debt, or choses in action generally. See N.Y. Tax Law 951-A
  • taxpayer: means the estate of the decedent and any other person subject to or liable for any tax imposed by this article. See N.Y. Tax Law 951-A
  • Tenancy by the entirety: A type of joint tenancy between husband and wife that is recognized in some States. Neither party can sever the joint tenancy relationship; when a spouse dies, the survivor acquires full title to the property.
  • Wages: means the earnings of an employee for labor or services rendered, regardless of whether the amount of earnings is determined on a time, piece, commission or other basis. See N.Y. Labor Law 190
  • Week: means a calendar week or a regularly established payroll week. See N.Y. Labor Law 190