§ 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, […]
§ 67-8-703. In-Kind Payment of Transfer Taxes — Appraisal
Any donor may make application to transfer qualified property to a receiving entity as an in-kind payment of transfer taxes. The donor shall first obtain a written appraisal of the qualified property. The donor shall then notify the receiving entity in writing of the desire to offer the qualified property to the receiving entity. The […]
§ 67-8-704. In-Kind Payment — Credit — Deferral — Limitation
Upon assumption of title by a receiving entity to property accepted as an in-kind payment, the department shall credit to the donor against the amount of taxes owed the valuation of the qualified property approved in the donor’s application. In no case shall any credit allowed by this part be greater than the amount of […]
§ 67-8-705. Promulgation of Rules and Regulations
The commissioner is authorized to promulgate rules and regulations and to design forms to implement this part.
§ 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 […]
§ 67-8-504. Arbitration. [Not Applicable to Decedents Who Die in 2016 or After, See § 67-8-507.]
If in any such case it appears that an agreement cannot be reached as provided in § 67-8-503, or if one (1) year shall have elapsed from the date of the election without such an agreement having been reached, the domicile of the decedent at the time of death shall be determined solely for inheritance […]
§ 67-8-505. [reserved.]
This part shall apply only in cases in which each of the states involved has in effect a law substantially similar to this part.
§ 67-8-507. Applicability of Part to Decedents Who Die in 2016 or Later. [Not Applicable to Decedents Who Die in 2016 or After, See § 67-8-507.]
This part does not apply in the case of any decedent who died in 2016 or in any subsequent year.
§ 67-8-421. [reserved.]
Failure or refusal to make any report or return provided for in this part and part 3 of this chapter is a Class C misdemeanor. The payment of any penalty imposed shall in no wise affect the liability for the tax, interest and any other penalties prescribed in this part. The making of a false […]
§ 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, […]