Florida Statutes 198.02 – Tax upon estates of resident decedents
Current as of: 2023 | Check for updates
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Terms Used In Florida Statutes 198.02
- Legacy: A gift of property made by will.
- Person: means persons, corporations, associations, joint stock companies, and business trusts. See Florida Statutes 198.01
- Resident: means a natural person domiciled in the state. See Florida Statutes 198.01
- United States: when used in a geographical sense includes only the 50 states and the District of Columbia. See Florida Statutes 198.01
A tax is imposed upon the transfer of the estate of every person who, at the time of death, was a resident of this state, the amount of which shall be a sum equal to the amount by which the credit allowable under the applicable federal revenue act for estate, inheritance, legacy, and succession taxes actually paid to the several states exceeds the aggregate amount of all constitutionally valid estate, inheritance, legacy, and succession taxes actually paid to the several states of the United States (other than this state) in respect of any property owned by such decedent or subject to such taxes as a part of or in connection with his or her estate. All values shall be as finally determined for federal estate tax purposes.