Section 7-221 – Payment on Disqualification of Specially Valued Property; Certificate of Nondisqualification
(a) (1) If within 15 years after the date of a decedent’s death, property valued under § 7-211 of this subtitle is disqualified for the special valuation, additional inheritance tax is due in the amount of the difference between the inheritance tax paid and the inheritance tax that would have been paid if the election under § […]
Section 7-202 – Imposition of Tax
Except as provided in § 7-203 of this subtitle, a tax is imposed on the privilege of receiving property that passes from a decedent and has a taxable situs in the State.
Section 7-224 – Information Report
(a) Within 3 months after the grant of letters of administration, a personal representative shall prepare and file with the register who issued the letters a written report that: (1) is made under oath; (2) lists the property as defined in § 7-201(d)(1)(ii) and (iii) of this subtitle that passes from a decedent; and (3) if appropriate, states that […]
Section 7-203 – Exemptions
(a) The inheritance tax does not apply to the receipt of an annuity or other payment under a public or private employees’ pension or benefit plan if the annuity or other payment is not taxable for federal estate tax purposes. (b) (1) (i) In this subsection the following words have the meanings indicated. (ii) “Child” includes a stepchild or former […]
Section 7-225 – Inventory
(a) A person required to file an inventory shall have the property appraised in the manner provided in Title 7, Subtitle 2 of the Estates and Trusts Article. (b) Each personal representative shall file the inventory required by § 7-201 of the Estates and Trusts Article with the register within 3 months after appointment. (c) If there is […]
Section 7-204 – Tax Rate
(a) In this section, “clear value” means fair market value minus expenses. (b) The inheritance tax rate is 10% of the clear value of the property that passes from a decedent. (c) If a decedent died on or before May 31, 1975, the rate of the inheritance tax is the rate in effect on the date of the […]
Section 7-228 – Estate of Nonresident Decedent
(a) For an estate of a nonresident decedent, if the death taxes and interest and penalties on the death taxes due to a domiciliary state or a political subdivision of a domiciliary state are not paid or secured, the unit responsible for collecting the death taxes in the domiciliary state or subdivision may petition and receive […]
Section 7-207 – In General
Except as provided in §§ 7-209 through 7-211 of this subtitle, the value of property that passes from a decedent is, for purposes of the inheritance tax, the appraised value of the property required to be stated in the inventory required to be filed under § 7-225 of this subtitle.
Section 7-231 – Administration by Register
(a) In addition to the duties set forth elsewhere in this subtitle and the Estates and Trusts Article, the register has the duties set forth in this section. (b) If an inventory is not filed as required by § 7-225(c), (d), or (e) of this subtitle, the register of the county where the inventory should have been […]
Section 7-208 – Concurrent Absolute and Less Than Absolute Interests
(a) (1) If there is a formal administration of an estate, the court with jurisdiction to administer the estate shall determine, for purposes of the inheritance tax, the value of any concurrent absolute interest or less than absolute interest in property that passes from the decedent, that is listed in an account required under § 7-305 of […]