§ 67-8-111. Payment Deadline. [Not Applicable to Any Transfer by Gift Made on or After January 1, 2012, See § 67-8-118.]
The tax imposed by this part for any calendar year shall be paid on or before April 15 following the close of such calendar year.
§ 67-8-112. Determination of Tax by Commissioner. [Not Applicable to Any Transfer by Gift Made on or After January 1, 2012, See § 67-8-118.]
As soon as practicable after the return required by § 67-8-110 is filed, the commissioner shall examine it and determine the correct amount of the tax. If the required return is not filed by the donor on or before the date due, the commissioner shall determine the amount of the tax upon the basis of […]
§ 67-8-113. Distress Warrant. [Not Applicable to Any Transfer by Gift Made on or After January 1, 2012, See § 67-8-118.]
The commissioner may issue a distress warrant for the collection of the tax imposed under this part, together with interest and penalty on the tax in accordance with § 67-4-110.
§ 67-8-114. [reserved.]
If the tax imposed under this part is not paid by the donor when due, and if a distress warrant directed against the property of such donor has been returned nulla bona, the donee of any gift shall be personally liable for such tax to the extent of the value of such gift.
§ 67-8-116. Taxpayer’s Remedies. [Not Applicable to Any Transfer by Gift Made on or After January 1, 2012, See § 67-8-118.]
If, in the determination of the existence of a deficiency, the commissioner appraises property at a value higher than that thought by the donor to be its true value, the donor shall have a right to file with the commissioner, within ninety (90) days from the date of the receipt of the notice of deficiency, […]
§ 67-8-117. Estate and Inheritance Taxes Unimpaired. [Not Applicable to Any Transfer by Gift Made on or After January 1, 2012, See § 67-8-118.]
This part shall not be construed impliedly to repeal or modify the Tennessee Inheritance Tax Law, compiled in parts 3-5 of this chapter, or the Tennessee Estate Tax Law, compiled in part 2 of this chapter, but shall be construed in pari materia with such laws.
§ 67-8-118. Applicability
This part does not apply to any transfer by gift made on or after January 1, 2012.
§ 67-8-104. Standard Exemptions. [Not Applicable to Any Transfer by Gift Made on or After January 1, 2012, See § 67-8-118.]
There shall be allowed against the net gifts made during any calendar year a maximum single exemption of ten thousand dollars ($10,000) against that portion of the net gifts going to donees of Class A, and a maximum single exemption of five thousand dollars ($5,000) against that portion of the net gifts going to donees […]
§ 67-8-105. Gifts Between or by Spouses. [Not Applicable to Any Transfer by Gift Made on or After January 1, 2012, See § 67-8-118.]
Where a donor transfers during the calendar year by gift an interest in any property specified in § 67-8-101(a) or (b) to a donee who at the time of the gift is the donor’s spouse, there shall be allowed as a deduction, in computing taxable gifts an amount equal to the gift. Section 2523(b)-(g) of […]
§ 67-8-106. Tax Rates. [Not Applicable to Any Transfer by Gift Made on or After January 1, 2012, See § 67-8-118.]
The tax imposed by this part with respect to gifts made prior to 1984 shall be computed at the following rates: CLASS A 1.4 percent on amounts from $10,000 to $25,000; 2 percent on the next $25,000 or part thereof; 4 percent on the next $50,000 or part thereof; 5.5 percent on the next $200,000 […]