[Not applicable to decedents who die in 2016 or after, see section 67-8-318.]

(a)

Terms Used In Tennessee Code 67-8-316

  • Decedent: A deceased person.
  • Gross estate: The total fair market value of all property and property interests, real and personal, tangible and intangible, of which a decedent had beneficial ownership at the time of death before subtractions for deductions, debts, administrative expenses, and casualty losses suffered during estate administration.
  • Property: includes both personal and real property. See Tennessee Code 1-3-105
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
(1) For the sole purpose of determining the net taxable estate under this part and part 4 of this chapter, there shall be allowed against the net estate a maximum single exemption against that portion of the estate distributable to one (1) or more beneficiaries of Class A of an amount determined according to the following schedule:

In the case of a decedent dying:

Amount

On or after October 1, 1983, but before January 1, 1984

$275,000

In 1984

325,000

In 1985

400,000

In 1986

500,000

After 1986

600,000

and there shall be allowed against the net estate a maximum single exemption against that portion of the estate distributable to one (1) or more beneficiaries of Class B of an amount determined according to the following schedule:

In the case of a decedent dying:

Amount

On or after July 1, 1984, but before January 1, 1985

$25,000

In 1985

50,000

In 1986

100,000

In 1987

150,000

In 1988

250,000

In 1989

350,000

After 1989

600,000
(2) After 1989, no distinction shall be made in classes of beneficiaries and all beneficiaries listed in subsection (b) in Class B shall be included in Class A.
(b) For the sole purpose of determining the net taxable estate under this part and part 4 of this chapter, there shall be allowed against the net estate a maximum single exemption against that portion of the estate distributable to one (1) or more beneficiaries of an amount to be determined by the following schedule:

In the case of a decedent dying:

Amount

On or after July 1, 1998, but before January 1, 1999

$625,000

In 1999

650,000

In 2000 and 2001

675,000

In 2002 and 2003

700,000

In 2004

850,000

In 2005

950,000

In 2006 through 2012

1,000,000

In 2013

1,250,000

In 2014

2,000,000

In 2015

5,000,000
(c) In the case of estates of nonresidents, the exemptions in this section shall be apportioned in the ratio that the value of the property included in the gross estate; to wit, property, the transfer of which is subject to the tax imposed bears to the value of all of the property that would have been included in the gross estate, if the decedent had been a resident of this state; provided, that, in any event, such proportionate part of the exemption shall not be less than is permitted by the Constitution of the United States.
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