Bill Text: IN SB0294 | 2013 | Regular Session | Introduced
Bill Title: Inheritance tax.
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2013-01-08 - First reading: referred to Committee on Appropriations [SB0294 Detail]
Download: Indiana-2013-SB0294-Introduced.html
Introduced Version
SENATE BILL No. 294
_____
DIGEST OF INTRODUCED BILL
Citations Affected: IC 6-4.1-3.
Synopsis: Inheritance tax. Increases inheritance tax exemption
amounts for Class B transferees from $500 to $100,000 and for Class
C transferees from $100 to $50,000.
Effective: July 1, 2013.
Randolph
January 8, 2013, read first time and referred to Committee on Appropriations.
Introduced
First Regular Session 118th General Assembly (2013)
PRINTING CODE. Amendments: Whenever an existing statute (or a section of the Indiana Constitution) is being amended, the text of the existing provision will appear in this style type, additions will appear in this style type, and deletions will appear in
Additions: Whenever a new statutory provision is being enacted (or a new constitutional provision adopted), the text of the new provision will appear in this style type. Also, the word NEW will appear in that style type in the introductory clause of each SECTION that adds a new provision to the Indiana Code or the Indiana Constitution.
Conflict reconciliation: Text in a statute in this style type or
SENATE BILL No. 294
A BILL FOR AN ACT to amend the Indiana Code concerning
taxation.
Be it enacted by the General Assembly of the State of Indiana:
SOURCE: IC 6-4.1-3-11; (13)IN0294.1.1. -->
SECTION 1. IC 6-4.1-3-11 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2013]: Sec. 11. (a) With respect
to a taxable transfer or transfers resulting from the death of a
decedent who dies before July 1, 2013, the first five hundred dollars
($500) of property interests transferred to a Class B transferee under a
the taxable transfer or transfers is exempt from the inheritance tax.
(b) With respect to a taxable transfer or transfers resulting from the death of a decedent who dies after June 30, 2013, the first one hundred thousand dollars ($100,000) of property interests transferred to a Class B transferee under the taxable transfer or transfers is exempt from the inheritance tax.
(b) With respect to a taxable transfer or transfers resulting from the death of a decedent who dies after June 30, 2013, the first one hundred thousand dollars ($100,000) of property interests transferred to a Class B transferee under the taxable transfer or transfers is exempt from the inheritance tax.
SOURCE: IC 6-4.1-3-12; (13)IN0294.1.2. -->
SECTION 2. IC 6-4.1-3-12 IS AMENDED TO READ AS
FOLLOWS [EFFECTIVE JULY 1, 2013]: Sec. 12. (a) With respect
to a taxable transfer or transfers resulting from the death of a
decedent who dies before July 1, 2013, the first one hundred dollars
($100) of property interests transferred to a Class C transferee under a
the taxable transfer or transfers is exempt from the inheritance tax.
(b) With respect to a taxable transfer or transfers resulting from the death of a decedent who dies after June 30, 2013, the first fifty thousand dollars ($50,000) of property interests transferred to a Class C transferee under the taxable transfer or transfers is exempt from the inheritance tax.
(b) With respect to a taxable transfer or transfers resulting from the death of a decedent who dies after June 30, 2013, the first fifty thousand dollars ($50,000) of property interests transferred to a Class C transferee under the taxable transfer or transfers is exempt from the inheritance tax.