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 7-203 – 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 7-204 – 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 […]