2019 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.]
§ 67-8-316. Exemptions. [Not applicable to decedents who die in 2016 or after, see § 67-8-318.]
(a)
(1) For the sole purpose of determining the net taxable estate under this part and part 4 of this chapter, there shall be allowed against the net estate a maximum single exemption against that portion of the estate distributable to one (1) or more beneficiaries of Class A of an amount determined according to the following schedule:and there shall be allowed against the net estate a maximum single exemption against that portion of the estate distributable to one (1) or more beneficiaries of Class B of an amount determined according to the following schedule:
- In the case of a decedent dying:Amount On or after October 1, 1983, but$275,000
before January 1, 1984
before January 1, 1985
- In the case of a decedent dying:Amount On or after October 1, 1983, but$275,000
(2) After 1989, no distinction shall be made in classes of beneficiaries and all beneficiaries listed in subsection (b) in Class B shall be included in Class A.
(b) For the sole purpose of determining the net taxable estate under this part and part 4 of this chapter, there shall be allowed against the net estate a maximum single exemption against that portion of the estate distributable to one (1) or more beneficiaries of an amount to be determined by the following schedule:
- In the case of a decedent dying:Amount On or after July 1, 1998, but$625,000
before January 1, 1999
- In the case of a decedent dying:Amount On or after July 1, 1998, but$625,000
(c) In the case of estates of nonresidents, the exemptions in this section shall be apportioned in the ratio that the value of the property included in the gross estate; to wit, property, the transfer of which is subject to the tax imposed bears to the value of all of the property that would have been included in the gross estate, if the decedent had been a resident of this state; provided, that, in any event, such proportionate part of the exemption shall not be less than is permitted by the Constitution of the United States.