Who needs a Tax Form ET-706?
The estate of an individual who lived in the New York State at the time of their death must submit an NYS estate tax return to the Tax Center if the total of the federal gross estate and any taxable gifts values more than the basic exclusion amount $3,125,000. This form should be completed for both types of people, New York State residents, and nonresidents. The form must be completed by the attorney or authorized representative of the decedent.
What is Form ET-706 for?
This form is used as a standard tax return for an estate of an individual who died during the calendar year specified in the form.
This tax return must be filed within nine months after the date of death unless an extension of time to file the return has been granted.
A copy of death certificate, decedent's last will, letters of appointment, and a power of attorney must be attached to this form.
How do I fill out Form ET-706?
The following information must be provided to complete the form:
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Tax computation;
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Description of litigation of course of action;
Once completed and signed, this form must be directed to the: NYS Estate Tax Processing Center, PO Box 15167, Albany NY 12212-5167
