There is a newer version of the Tennessee Code
2010 Tennessee Code
Title 67 - Taxes And Licenses
Chapter 8 - Transfer Taxes
Part 3 - Inheritance TaxGeneral Provisions
67-8-308 - Transfers to executors and trustees.
67-8-308. Transfers to executors and trustees.
If property is transferred to executors or trustees in lieu of their commissions or allowances, the excess in value of the property so transferred above the amount of commissions or allowances that would be payable in the absence of such transfer, shall be taxable.
[Acts 1929 (E.S.), ch. 29, § 1(6); Code 1932, § 1263; T.C.A. (orig. ed.), § 30-1606.]
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