N.Y. Tax Law § 955: Resident's New York taxable estate

§ 955. Resident's New York taxable estate. (a) General.--The taxable

estate of a New York resident shall be his or her New York gross estate,

minus the deductions allowable for determining his or her federal

taxable estate under the internal revenue code (whether or not a federal

estate tax return is required to be filed), except to the extent that

such deductions relate to real or tangible personal property sitused

outside New York state.

(b) Waiver of deductions.-- If the right to any deduction otherwise

allowable is waived for federal estate tax purposes, it shall be

considered waived for New York estate tax purposes.

(c) Qualified terminable interest property election.-- Except as

otherwise provided in this subsection, the election referred to in

paragraph (7) of subsection (b) of section 2056 of the internal revenue

code shall not be allowed under this article unless such election was

made with respect to the federal estate tax return required to be filed

under the provisions of the internal revenue code. If such election was

made for the purposes of the federal estate tax, then such election must

also be made by the executor on the return of the tax imposed by this

article. Where no federal estate tax return is required to be filed, the

executor must make the election referred to in such paragraph (7) with

respect to the tax imposed by this article on the return of the tax

imposed by this article. Any election made under this subsection shall

be irrevocable.

(d) Cross references.-- For provisions of the internal revenue code

specifying the deductions allowable for federal estate tax purposes,

see:

Sec.2032(b). Alternate valuation--special rule for deductions.

Sec.2046. Disclaimers.

Sec.2053. Expenses, indebtedness, and taxes.

Sec.2054. Losses.

Sec.2055. Transfers for public, charitable, and religious uses.

Sec.2056. Bequests, etc., to surviving spouse.