§ 67-8-604. Returns
Every person required to file a return reporting a generation-skipping transfer under applicable federal statute and regulations shall file a return with the department of revenue on or before the last day prescribed for filing the federal return, and shall pay the tax imposed by § 67-8-603 at that time. There shall be attached to […]
§ 67-8-605. Administrative and Enforcement Procedures
To the extent not inconsistent with §§ 67-8-603 and 67-8-604, the administrative and enforcement provisions of the inheritance tax law, as stated in parts 3-5 of this chapter, shall be applicable to this part in the event the original transferor is not alive at the time of the transfer. Notwithstanding § 67-8-118, if the original […]
§ 67-8-701. Short Title — Purpose
This part shall be known and may be cited as the “Payment of Transfer Taxes in Kind Act.” It is the intent of this part, in appropriate circumstances, to allow the payment of transfer taxes under this chapter by the transfer to the state of unique objects of significant historical or artistic interest, unique sites […]
§ 67-8-702. Part Definitions
As used in this part, unless the context otherwise requires: “Department” means the department of revenue; “Donor” means any person responsible for the payment of transfer taxes to the state, including, but not limited to, a personal representative, executor, administrator, individual taxpayer, joint tenant, heir, legatee, devisee, grantee, transferee, trustee, tenant in common, conservator, guardian, […]
§ 67-8-423. Liability of Executors, Administrators and Trustees. [Not Applicable to Decedents Who Die in 2016 or After, See § 67-8-425.]
Executors, administrators and trustees shall be liable for all taxes payable on the estate, together with any interest or penalties provided in this part, until the same shall have been paid; provided, that in no case shall such executor, administrator or trustee be liable for a greater amount than was actually received by the executor, […]
§ 67-8-424. Insurance Companies — Notice of Death of Insured. [Not Applicable to Decedents Who Die in 2016 or After, See § 67-8-425.]
Every life insurance company or association doing business in this state shall, within ten (10) days after the approval of proof of death of a person insured under a policy or policies, in such companies or association, give notice in writing to the commissioner where the estate is being administered stating: The date and amount […]
§ 67-8-425. Applicability of Part to Decedents Who Die in 2016 or Later
This part does not apply in the case of any decedent who died in 2016 or in any subsequent year.
§ 67-8-501. Part Definitions. [Not Applicable to Decedents Who Die in 2016 or After, See § 67-8-507.]
As used in this part, unless the context otherwise requires: “Executor” means any executor of the will or administrator of the estate of a decedent, except an ancillary administrator; “Inheritance tax” means any tax levied by a state on account of the transfer or shifting of economic benefits in property at death, or in contemplation […]
§ 67-8-502. Election of Provisions — Invocation of Provisions by Election — Effect of Election. [Not Applicable to Decedents Who Die in 2016 or After, See § 67-8-507.]
In any case in which this state and one (1) or more other states each claims that it was the domicile of a decedent at the time of death, and no judicial determination of domicile for inheritance tax purposes has been made in any such states, any executor, or the taxing official of any such […]
§ 67-8-503. Agreement by States. [Not Applicable to Decedents Who Die in 2016 or After, See § 67-8-507.]
In any case in which an election is made as provided in § 67-8-502 and not rejected, the commissioner may enter into a written agreement with the other taxing officials involved and with the executors, to accept a certain sum in full payment of any inheritance tax, together with interest and penalties, that may be […]