Tennessee § 67-8-314 [Not applicable to decedents who die in 2016 or after, see section 67-8-318.] Tax rates

Tennessee Statutes

§ 67-8-314 — [Not applicable to decedents who die in 2016 or after, see section 67-8-318.] Tax rates

(a)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:

(1)Class A If net taxable estate is: The tax is: Not over $40,000 5.5% of the net taxable estate. Over $40,000 but not over $240,000 $2,200, plus 6.5% of the excess over $40,000. Over $240,000 but not over $440,000 $15,200, plus 7.5% of the excess over $240,000. Over $440,000 $30,200, plus 9.5% of the excess over $440,000.

(2)Class B If the net taxable estate is: The tax is: Not over $40,000 5.5% of the net taxable estate. Over $40,000 but not over $240,000 $2,200 plus 6.5% of the excess over $40,000. Over $240,000 but not over $440,000 $15,200 plus 7.5% o

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(a) 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: (1) Class A If net taxable estate is: The tax is: Not over $40,000 5.5% of the net taxable estate. Over $40,000 but not over $240,000 $2,200, plus 6.5% of the excess over $40,000. Over $240,000 but not over $440,000 $15,200, plus 7.5% of the excess over $240,000. Over $440,000 $30,200, plus 9.5% of the excess over $440,000. (2) Class B If the net taxable estate is: The tax is: Not over $40,000 5.5% of the net taxable estate. Over $40,000 but not over $240,000 $2,200 plus 6.5% of the excess over $40,000. Over $240,000 but not over $440,000 $15,200 plus 7.5% of the excess over $240,000. Over $440,000 $30,200 plus 9.5% of the excess over $440,000. (b) In the case of a decedent dying in 2016, or in any subsequent year, no tax shall be imposed pursuant to this part; provided, however, that this subsection (b) shall not be construed to absolve liability for any tax duly levied by this section, during any year prior to January 1, 2016.

Tennessee § 67-8-314 ([Not applicable to decedents who die in 2016 or after, see section 67-8-318.] Tax rates) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Legislative History

Acts 1929 (Ex. Sess.), ch. 29, § 2(3); Code 1932, § 1267; Acts 1935 (Ex. Sess.), ch. 41, § 1; C. Supp. 1950, § 1267; Acts 1967, ch. 141, § 1; 1972, ch. 452, § 3; 1978, ch. 731, § 6; T.C.A. (orig. ed.), § 30-1610; Acts 1984, ch. 989, § 2; 1985, ch. 364, § 4; 2012, ch. 1057, § 2.