Tennessee Code Annotated

Title 67: Taxes and Licenses

Chapter 8: Transfer Taxes

Part 3: Inheritance Tax - General Provisions

TCA 67-8-316: Exemptions.

(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: Click here to view image.

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: Click here to view image.

(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: Click here to view image.

(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.

History: Acts 1929 (Ex. Sess.), ch. 29, SC 2(2)hereby; Code 1932, SC 1266; Acts 1963, ch. 196; 1965, ch. 18, SC 1; 1967, ch. 383, SC 1; 1972, ch. 452, SC 2; impl. am. Acts 1976, ch. 529, SC 1; impl. am. Acts 1977, ch. 25, SCSC 3-5; Acts 1978, ch. 731, SC 5; 1983, ch. 73, SC 4; T.C.A. (orig. ed.), SC 30-1609; Acts 1984, ch. 989, SC 1; 1985, ch. 364, SC 5; 1998, ch. 761, SC 1; 2012, ch. 1057, SC 1.