Del. Code 30, § 1504 : State Taxes — Estate Tax — Tax on transfers of nonresident estates

24 Jul 2016

Current through 2016 Legislative Session, Act 399

(a) Imposition of tax. Subject to subsections (b) and (c) of this section, a tax is imposed upon the transfer of the estate of every decedent who, at the time of death, was a nonresident of this State and owned real or tangible personal property situated in this State which was taxable under the provisions of Chapter 11 of the Internal Revenue Code [26 U.S.C. Chapter 11] as it was in effect on the decedent's date of death.
(b) Amount of tax. -- The amount of the tax shall be computed in the same manner as provided in § 1502 of this title, the result of which is then multiplied by a fraction:
(1) The numerator of which is the value of that part of the decedent's federal taxable estate consisting of real and tangible personal property located in this State, and
(2) The denominator of which is the value of the decedent's federal taxable estate , excluding real and tangible personal property not located in any state.
Del. C. § 1504
Amended by Laws 2013, ch. 162,s 1, eff. 8/5/2013.
71 Del. Laws, c. 353, § 21; 77 Del. Laws, c. 85, § 4.;