Indiana Code 29-2-12-4. Method of apportionment
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Terms Used In Indiana Code 29-2-12-4
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Decedent: A deceased person.
- Property: includes personal and real property. See Indiana Code 1-1-4-5
Sec. 4. The portion of the federal estate tax to be paid by each person, heir, or beneficiary of a decedent‘s estate shall be determined by dividing the value of the property received by the person, heir, or beneficiary, which is included in the net taxable estate, by the amount of the net taxable estate, and multiplying the result by the amount of the total federal estate tax paid.
Formerly: Acts 1969, c.175, s.4. As amended by P.L.36-2011, SEC.6.