2018 Tennessee Code
Title 67 - Taxes and Licenses
Chapter 8 - Transfer Taxes
Part 3 - Inheritance Tax -- General Provisions [Not Applicable to Decedents Who Die in 2016 or After, See § 67-8-318.]
§ 67-8-314. Tax rates. [Not applicable to decedents who die in 2016 or after, see § 67-8-318.]
(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.
