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House Bill 1080


House Bill 1080

ARCHIVE (2000)

Latest Information

 

DIGEST OF INTRODUCED BILL


Inheritance tax deduction and valuation. Allows a deduction from the value of property interests transferred by a resident decedent equal to the amount of the decedent's interest in a qualified family owned business deducted from the decedent's gross estate for federal estate tax purposes under Section 2057 of the Internal Revenue Code. Provides that the finally determined federal estate tax value of a property interest is presumed to be the fair market value of the property interest for Indiana inheritance tax purposes. (The introduced version of this bill was prepared by the probate code study commission.)
Current Status:
 In Committee - first House
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