High-level multiconfigurational wavefunctions are used to study the di
pole and quadrupole moments, the nitrogen nuclear quadrupole coupling
constant, the magnetizability, and the rotational g factor of nitroeth
ene, and the results are compared with rotational Zeeman-effect experi
ments. It is demonstrated that the use of magnetic-field dependent ato
mic orbitals is crucial for an accurate description of the molecular m
agnetic properties. Although the correlation effects are significant,
their major contributions may be retrieved with modest-size active spa
ces, indicating that the static correlation effects arising from the p
i orbital space dominate. The difference in sign between theory and ex
periment reported previously for the tensor components of the quadrupo
le moment is discussed.