Kentucky Statutes 140.070 – Inheritance tax rates
Current as of: 2024 | Check for updates
|
Other versions
The tax upon transfers of property as defined in the preceding sections of this chapter shall be at the following rates:
(1) Class A. In case the transfer is to or for the benefit of a parent, surviving spouse, child by blood, stepchild, child adopted during infancy, child adopted during adulthood who was reared by the decedent during infancy or a grandchild who is the issue of a child by blood, the issue of a stepchild, the issue of a child adopted during adulthood who was reared by the decedent during infancy, the issue of a child adopted during infancy, brother, sister, or brother or sister of the half blood, the tax, subject to the provisions of KRS § 140.080, shall be:
On its value not exceeding $20,000 ……………………………………………………. 2% On its value exceeding $20,000, but not exceeding $30,000 …………………. 3% On its value exceeding $30,000, but not exceeding $45,000 …………………. 4% On its value exceeding $45,000, but not exceeding $60,000 …………………. 5% On its value exceeding $60,000, but not exceeding $100,000 ……………….. 6% On its value exceeding $100,000, but not exceeding $200,000 ……………… 7% On its value exceeding $200,000, but not exceeding $500,000 ……………… 8% On its value exceeding $500,000 ……………………………………………………… 10%
(2) Class B. In case the transfer is to or for the benefit of a nephew, niece, or a nephew or niece of the half blood, daughter-in-law, son-in-law, aunt or uncle, or a great- grandchild who is the grandchild of a child by blood, of a stepchild or of a child adopted during infancy, the tax, subject to the provisions of KRS § 140.080, shall be:
On its value not exceeding $10,000 ……………………………………………………. 4% On its value exceeding $10,000, but not exceeding $20,000 …………………. 5% On its value exceeding $20,000, but not exceeding $30,000 …………………. 6% On its value exceeding $30,000, but not exceeding $45,000 …………………. 8% On its value exceeding $45,000, but not exceeding $60,000 ……………….. 10% On its value exceeding $60,000, but not exceeding $100,000 ……………… 12% On its value exceeding $100,000, but not exceeding $200,000 ……………. 14% On its value exceeding $200,000 ……………………………………………………… 16%
(3) Class C. In case the transfer is to or for the benefit of any educational, religious, or other institutions, societies, or associations, or to any cities, towns, or public institutions not exempted by KRS § 140.060, or to any person not included in either Class A or Class B, the tax, subject to the provisions of KRS § 140.080 shall be:
On its value not exceeding $10,000 ……………………………………………………. 6% On its value exceeding $10,000, but not exceeding $20,000 …………………. 8% On its value exceeding $20,000, but not exceeding $30,000 ……………….. 10% On its value exceeding $30,000, but not exceeding $45,000 ……………….. 12% On its value exceeding $45,000, but not exceeding $60,000 ………………. . 14% On its value exceeding $60,000 …………………………………. ……………………. 16%
Effective: July 1, 1995
History: Amended 1995 (2d Extra. Sess.) Ky. Acts ch. 2, sec. 1, effective July 1, 1995.
— Amended 1990 Ky. Acts ch. 31, sec. 1, effective July 13, 1990; and ch. 142, sec. 1, effective July 13, 1990. — Amended 1978 Ky. Acts ch. 138, sec. 1, effective June 17,
1978. — Amended 1948 Ky. Acts ch. 96, sec. 1. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4281a-19.
(1) Class A. In case the transfer is to or for the benefit of a parent, surviving spouse, child by blood, stepchild, child adopted during infancy, child adopted during adulthood who was reared by the decedent during infancy or a grandchild who is the issue of a child by blood, the issue of a stepchild, the issue of a child adopted during adulthood who was reared by the decedent during infancy, the issue of a child adopted during infancy, brother, sister, or brother or sister of the half blood, the tax, subject to the provisions of KRS § 140.080, shall be:
Terms Used In Kentucky Statutes 140.070
- Decedent: A deceased person.
On its value not exceeding $20,000 ……………………………………………………. 2% On its value exceeding $20,000, but not exceeding $30,000 …………………. 3% On its value exceeding $30,000, but not exceeding $45,000 …………………. 4% On its value exceeding $45,000, but not exceeding $60,000 …………………. 5% On its value exceeding $60,000, but not exceeding $100,000 ……………….. 6% On its value exceeding $100,000, but not exceeding $200,000 ……………… 7% On its value exceeding $200,000, but not exceeding $500,000 ……………… 8% On its value exceeding $500,000 ……………………………………………………… 10%
(2) Class B. In case the transfer is to or for the benefit of a nephew, niece, or a nephew or niece of the half blood, daughter-in-law, son-in-law, aunt or uncle, or a great- grandchild who is the grandchild of a child by blood, of a stepchild or of a child adopted during infancy, the tax, subject to the provisions of KRS § 140.080, shall be:
On its value not exceeding $10,000 ……………………………………………………. 4% On its value exceeding $10,000, but not exceeding $20,000 …………………. 5% On its value exceeding $20,000, but not exceeding $30,000 …………………. 6% On its value exceeding $30,000, but not exceeding $45,000 …………………. 8% On its value exceeding $45,000, but not exceeding $60,000 ……………….. 10% On its value exceeding $60,000, but not exceeding $100,000 ……………… 12% On its value exceeding $100,000, but not exceeding $200,000 ……………. 14% On its value exceeding $200,000 ……………………………………………………… 16%
(3) Class C. In case the transfer is to or for the benefit of any educational, religious, or other institutions, societies, or associations, or to any cities, towns, or public institutions not exempted by KRS § 140.060, or to any person not included in either Class A or Class B, the tax, subject to the provisions of KRS § 140.080 shall be:
On its value not exceeding $10,000 ……………………………………………………. 6% On its value exceeding $10,000, but not exceeding $20,000 …………………. 8% On its value exceeding $20,000, but not exceeding $30,000 ……………….. 10% On its value exceeding $30,000, but not exceeding $45,000 ……………….. 12% On its value exceeding $45,000, but not exceeding $60,000 ………………. . 14% On its value exceeding $60,000 …………………………………. ……………………. 16%
Effective: July 1, 1995
History: Amended 1995 (2d Extra. Sess.) Ky. Acts ch. 2, sec. 1, effective July 1, 1995.
— Amended 1990 Ky. Acts ch. 31, sec. 1, effective July 13, 1990; and ch. 142, sec. 1, effective July 13, 1990. — Amended 1978 Ky. Acts ch. 138, sec. 1, effective June 17,
1978. — Amended 1948 Ky. Acts ch. 96, sec. 1. — Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4281a-19.