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TEXAS

INHERITANCE AND ESTATE TAXES

Inheritance Tax

Tax imposed. All property within the jurisdiction of this State, real or personal, corporate or incorporate, and any interest therein, whether belonging to inhabitants of this State or to others, and whether the property is located within or without this State, is subject to an inheritance tax imposed by this State. (7117)

Transfers taxable. This tax applies to property transferred absolutely or in trust by will or by the laws of descent and distribution of this or any other State, or by deed, grant, sale, or gift made or intended to take effect in possession or enjoyment after the death of the grantor or donor. If a testator bequeaths or devises to his executor or trustee property in lieu of commission, the value of such property in excess of reasonable compensation is subject to this tax. (7117, 7124)

Deductions allowed. The only deductions permissible are debts due by the estate, funeral expenses, expenses of last illness, Federal, State, county, and municipal taxes due at time of death, and an amount equal to the value of any property forming a part of the gross estate situated in the United States of any person who died within 5 years prior to the death of the decedent, but under the condition. specified. (7125)

Exemptions. All property passing to or for the use of the United States or any religious, educational, or charitable organization, when such bequest, devise, or gift is to be used within this State, is exempt from this tax. The beneficiaries are allowed the following exemptions: class A, $25,000; class B, $25,000; class C, $10,000; class D, $1,000; and class E, $500. (7118-7122)

Classification of beneficiaries.-The beneficiaries under this act are classified as follows: Class A: Husband or wife of decedent or their direct lineal descendants; direct lineal descendants or ascendants of decedent; adopted children of decedent or their direct lineal descendants; husband of a daughter or wife of a son, of decedent. Class B: The United States, if the property passing is to be used in this State. Class C: Brother or sister, or direct lineal descendants thereof, of decedent. Class D: Uncle or aunt, or direct lineal descendants thereof, of decedent. Class E: All others, including the United States or any religious, educational or charitable organization when the bequest, devise, or gift is not to be used within this State. (7118-7122)

Rates of tax.—The tax imposed on the several classes of beneficiaries is at the following rates: (7118–7122).

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Payment of tax; interest.—This tax is payable to the tax collector of the county in which is located the county court having jurisdiction of the estate of the decedent, and said collector transmits the same, less his disbursements, and also his compensation of $1 for each estate on which he collects a tax, to the State treasurer. If the amount of tax due is not paid within 3 months after assessment, it draws 2 percent interest per month; if not paid within 9 months, suit is filed to foreclose the tax lien. (7132, 7134, 7142)

Tax lien.-A lien exists on all property subject to this tax to secure the payment of the taxes, penalties, and costs.

(7133)

Disposition of proceeds. The proceeds of this tax are credited to the general revenue fund of the State.

(7143)

Administration of act. The State comptroller administers the provisions of this law. (7144).

Source of information. Chapter 5, Title 122, Vernon's Texas Statutes, 1936.

Estate Tax

Tax imposed. In addition to the inheritance tax imposed under the foregoing provisions, an inheritance and transfer tax is levied upon the net estate of every decedent whose estate, or any portion thereof, is made taxable under the inheritance tax laws of this State. (7144a-1)

Transfers taxable; rate. This tax is levied upon the entire net value of the taxable estate of the decedent situated and taxable in this State; and it is equal to the difference between the sum of such taxes due this State as inheritance or transfer taxes and 80 percent of the total sum of the estate and transfer taxes imposed under the Federal estate tax act.2 (7144a-2)

Payment of tax; interest.—This additional tax becomes due 30 days after notice of assessment, and bears interest at the rate of 6 percent per annum from the date of such notice; if not paid within 3 months, a penalty of 2 percent per month accrues from the due date, and said penalty, after it accrues, is in lieu of the interest. (7144a-6)

Tax lien. This tax is a lien upon the entire estate of the deceased and it is collectible out of said entire estate, or any part thereof, regardless of exemptions and deductions. (7144a-2)

Source of information. Chapter 5A, Title 122, Vernon's Texas Statutes, 1936.

The provisions of law relating to this tax are shown on p. 7.

UTAH

ESTATE TAX

Tax imposed. A tax equal to the percentages hereinafter shown of the market value of the net estate is imposed upon the transfer of the net estate of every decedent, whether a resident or nonresident of this State. (12-2)

Gross estate. The "gross estate" of a decedent is determined by including the value at the time of his death of all property, real or personal, within the jurisdiction of this State, and any interest therein, whether tangible or intangible, which passes to any person, in trust or otherwise, by testamentary disposition or by law of inheritance or succession of this or any other State or country, or by deed, grant, bargain, sale, or gift made in contemplation of the death of the grantor, vendor, or donor, or intended to take effect in possession or enjoyment at or after his death. (12-3)

Net estate. In determining the amount of tax to be paid, the debts of the estate are first deducted, and the remainder constitutes the "net estate." Such debts include, in addition to those owing by the decedent in this State at the time of his death, all general and special taxes due in this State prior to his death; a reasonable sum for funeral expenses, including not in excess of $200 for tombstone expenses, when same has been erected in this State prior to the settlement of the estate; court costs and commission of executors. (12–7, 12-8)

Transfers taxable. Whenever property is held or deposited in joint names, or as tenants by the entirety, and is transferred under the doctrine of survivorship, the right of the survivor to the immediate ownership or possession and enjoyment of such property is deemed a transfer taxable hereunder, in the same manner as if the whole of such property to which such transfer relates belonged to the deceased and passed to the survivor by will. Whenever a decedent appoints an executor and in lieu of his commission makes a bequest or devise of property to him which would otherwise be liable to this tax, or appoints him residuary legatee or devisee, and such bequest, devise, or residuary legacy exceeds what would be a reasonable compensation for his services, such excess is liable to this tax. (12-5, 12-6)

Rates of tax. This tax is imposed at the following rates: Three percent of the amount by which the net estate exceeds $10,000 and does not exceed $25,000; over $25,000 to $75,000, 5 percent; over $75,000 to $125,000, 8 percent, and 10 percent of the amount by which the net estate exceeds $125,000. (12-2)

Filing returns. Each executor is required to file a return with the clerk of the district court having jurisdiction over the estate. This return is filed within 3 months after the executor's appointment. (12-11)

Payment of tax; interest. This tax is payable to the State tax commission within 1 year from the death of the decedent; and if not so

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paid, interest is charged at the rate of 8 percent per annum. sions exist for extending the period in which the tax may be paid, and for abating the interest thereon for such period of extension. The taxpayer, at the discretion of the tax commission, may choose to pay in kind on an estate or any portion thereof which is not liquid. (12-2, 12-23)

Tax lien. This tax is and remains a lien on the property liable therefor from the death of the decedent until paid. (12-24)

Disposition of proceeds.-The proceeds of this tax are paid into the State treasury. (12-32)

Administration of act.-The State tax commission is charged with enforcing the provisions of this act. (12-27)

Sources of information.-Title 80, Chapter 12, Revised Statutes of Utah, 1933; Chapter 88, Session Laws of 1935.

VERMONT

INHERITANCE AND ESTATE TAXES

Inheritance Tax

Tax imposed.-An inheritance tax is imposed by this State upon each share or distributive share of real or personal property, or any interest therein, passing under the laws of descent or the intestate laws of this State, or any other State or government, subject to the exemptions and conditions hereinafter shown. (1047)

Transfers taxable. This tax is imposed upon (a) all legacies or distributive shares consisting of or arising from real estate within this State or any interest therein owned by decedent at the date of his death, and passing by will, the laws of descent, or a decree of court in this State; or consisting of or arising from personal estate or any interest therein so passing from such decedent who at the date of his death was an inhabitant of this State and then owned such personal property. (b) Every person who acquires title to real estate within this State or any interest therein by deed, grant, or gift, except in case of a bona fide purchase, made or intended to take effect in possession or enjoyment upon or after the death of the grantor or donor, and every such person who thus acquires title to personal estate or any interest therein from a deceased person who at the date of his death was an inhabitant of this State and then owned such property, is required to pay to the State the same tax he would have been required to pay had such estate or interest passed to him from such decedent by will, the laws of descent, or decree of a court in this State. (1048, 1050)

Exemptions.-Legacies or shares of real and personal property made to a bishop in his ecclesiastical capacity for religious uses within this State, or to a city or town within this State for cemetery purposes, or to charitable, educational, or religious societies or institutions created and existing under the laws of this State and having their principal offices therein, are exempt from this tax. Beneficiaries of class A receive an exemption of $10,000. (1048, 1049, 1051)

Classification of beneficiaries.-The beneficiaries under this act are classified as follows: Class A: Husband, wife, child, father, mother, grandchild, wife or widow of a son, husband of a daughter, adopted child or stepchild or child of either, or other lineal descendant, of decedent. Class B: All others. (1049)

Rates of tax.-The rates of tax payable by the two classes of beneficiaries are as follows: Class A: On the excess of the value over $10,000 to $25,000, 1 percent; over $25,000 to $50,000, 2 percent; over $50,000 to $250,000, 4 percent; and 5 percent on the excess of the value over $250,000. Beneficiaries of class B pay at the rate of 5 percent of the value of each legacy or distributive share. (1048, 1049)

Payment of tax; interest. This tax is payable to the State treasurer within 2 years from the date of decedent's death, unless an

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