§ 67-8-309. Transfers by Operation of Law. [Not Applicable to Decedents Who Die in 2016 or After, See § 67-8-318.]
Any transfer of property in any manner by operation of law upon the death of any person shall be deemed a transfer taxable under this part and part 4 of this chapter.
§ 67-8-310. Future, Contingent or Limited Estates, Income, Interest or Annuities — Valuation. [Not Applicable to Decedents Who Die in 2016 or After, See § 67-8-318.]
The value of every future, contingent or limited estate, income, interest or annuity for any life or lives in being shall, so far as possible, be determined by the rule, method and standard of mortality and of value set forth in the actuarial tables of mortality in use by the internal revenue service for federal […]
§ 67-8-311. Estates Subject to Divestiture. [Not Applicable to Decedents Who Die in 2016 or After, See § 67-8-318.]
Where an estate or interest may be divested by the act or omission of the transferee, it shall be taxed as if there were no possibility of divesting.
§ 67-8-312. Present Value Not Ascertainable — Procedure. [Not Applicable to Decedents Who Die in 2016 or After, See § 67-8-318.]
If it shall be impossible to compute the present value of any of the property transferred, or of any interest in such property, or if the tax cannot be determined because of a contingency as to who will take it, the commissioner of revenue, with the written approval of the attorney general and reporter, may […]
§ 67-8-313. Tax Computed on Aggregate Value of Transfers. [Not Applicable to Decedents Who Die in 2016 or After, See § 67-8-318.]
The value of all property transferred to each class of beneficiaries shall be aggregated for the purpose of computing the tax and allowing the exemptions heretofore provided for in this part and part 4 of this chapter.
§ 67-8-314. Tax Rates. [Not Applicable to Decedents Who Die in 2016 or After, See § 67-8-318.]
The tax imposed upon the value of the net taxable estate of a decedent, distributable in accordance with the classification, deductions, allowances and exemptions set out in this part shall be, respectively, at the following rates: Class A If net taxable estate is: The tax is: Not over $40,000 5.5% of the net taxable […]
§ 67-8-315. Deductions. [Not Applicable to Decedents Who Die in 2016 or After, See § 67-8-318.]
For the purpose of determining the net estate subject to tax, the following deductions shall be deducted from the value of the gross estate; except that, in the case of a transfer other than by will or intestate law, the only deductions permitted shall be liens subject to which the transfer is made and transfer […]
§ 67-8-316. Exemptions. [Not Applicable to Decedents Who Die in 2016 or After, See § 67-8-318.]
For the sole purpose of determining the net taxable estate under this part and part 4 of this chapter, there shall be allowed against the net estate a maximum single exemption against that portion of the estate distributable to one (1) or more beneficiaries of Class A of an amount determined according to the following […]
§ 67-8-317. Credits. [Not Applicable to Decedents Who Die in 2016 or After, See § 67-8-318.]
If the gross estate includes property upon the transfer of which to the decedent a tax was previously and within five (5) years imposed by this state, or property that has been received by the decedent in exchange for property upon which a tax was so imposed, a credit on account of such tax actually […]
§ 67-8-318. 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.