How estate tax credits and deferrals are shared

Except as otherwise provided in sections 560:3-1306 and 560:3-1307, the following rules shall apply to credits and deferrals of estate taxes: (1) A credit resulting from the payment of gift taxes, or from estate taxes paid on property previously taxed, shall inure ratably to the benefit of all persons to which the estate tax is apportioned; (2) A credit for state or foreign estate taxes shall inure ratably to the benefit of all persons to which the estate tax is apportioned; provided that the amount of a credit for a state or foreign tax paid by a beneficiary of the property on which the state or foreign tax was imposed, directly or by a charge against the property, shall inure to the benefit of the beneficiary; and (3) If payment of a portion of an estate tax is deferred because of the inclusion in the gross estate of a particular interest in property, the benefit of the deferral shall inure ratably to the persons to which the estate tax attributable to the interest is apportioned. The burden of any interest charges incurred on a deferral of taxes and the benefit of any tax deduction associated with the accrual or payment of the interest charge shall be allocated ratably among the persons receiving an interest in the property.