Ind. Code § 6-4.1-5-1

Current through P.L. 171-2024

Section 6-4.1-5-1 - Tax rates; transfers to Classes A, B, and C transferees

(a) For purposes of this section, the net taxable value of property interests transferred by a decedent to a particular transferee equals the remainder of:

(1) the total fair market value of the property interests transferred by the decedent to the transferee under a taxable transfer or transfers; minus

(2) the total amount of exemptions and deductions provided under sections 9.1 through 15 of IC 6-4.1-3 (before its repeal) with respect to the property interests so transferred.

(b) The inheritance tax imposed on a decedent's transfer of property interests to a particular Class A transferee is prescribed in the following table:

NET TAXABLE VALUE OF PROPERTY INTERESTS TRANSFERRED	INHERITANCE TAX
$25,000 or less	1% of net taxable value
over $25,000 but not over $50,000	$250, plus 2% of net taxable value over $25,000
over $50,000 but not over $200,000	$750, plus 3% of net taxable value over $50,000
over $200,000 but not over $300,000	$5,250, plus 4% of net taxable value over $200,000
over $300,000 but not over $500,000	$9,250, plus 5% of net taxable value over $300,000
over $500,000 but not over $700,000	$19,250, plus 6% of net taxable value over $500,000
over $700,000 but not over $1,000,000	$31,250, plus 7% of net taxable value over $700,000
over $1,000,000 but not over $1,500,000	$52,250, plus 8% of net taxable value over $1,000,000
over $1,500,000	$92,250, plus 10% of net taxable value over $1,500,000

(c) The inheritance tax imposed on a decedent's transfer of property interests to a particular Class B transferee is prescribed in the following table:

NET TAXABLE VALUE OF PROPERTY INTERESTS TRANSFERRED	INHERITANCE TAX
$100,000 or less	7% of net taxable value
over $100,000 but not over $500,000	$7,000, plus 10% of net taxable value over $100,000
over $500,000 but not over $1,000,000	$47,000, plus 12% of net taxable value over $500,000
over $1,000,000	$107,000, plus 15% of net taxable value over $1,000,000

(d) The inheritance tax imposed on a decedent's transfer of property interests to a particular Class C transferee is prescribed in the following table:

NET TAXABLE VALUE OF PROPERTY INTERESTS TRANSFERRED	INHERITANCE TAX
$100,000 or less	10% of net taxable value
over $100,000 but not over $1,000,000	$10,000, plus 15% of net taxable value over $100,000
over $1,000,000	$145,000, plus 20% of net taxable value over $1,000,000

IC 6-4.1-5-1

Amended by P.L. 86-2018,SEC. 78, eff. 3/15/2018.

As added by Acts1976 , P.L. 18, SEC.1. Amended by Acts 1977(ss) , P.L. 6, SEC.7; Acts1979 , P.L. 75, SEC.10; Acts1980 , P.L. 57, SEC.12; P.L. 87-1983, SEC.5.