Part 1 Gift Tax 67-8-101 – 67-8-118
Part 2 Tennessee Estate Tax Law 67-8-201 – 67-8-217
Part 3 Inheritance Tax – General Provisions 67-8-301 – 67-8-318
Part 4 Inheritance Tax – Administration 67-8-401 – 67-8-425
Part 5 Inheritance Tax – Disputed Domicile 67-8-501 – 67-8-507
Part 6 Generation-Skipping Transfer Tax Law 67-8-601 – 67-8-605
Part 7 Payment of Transfer Taxes in Kind Act 67-8-701 – 67-8-705

Terms Used In Tennessee Code > Title 67 > Chapter 8 - Transfer Taxes

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Appraisal: A determination of property value.
  • 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
  • Children: means individuals who have not attained eighteen (18) years of age. See Tennessee Code 39-17-1603
  • Community center: means any center operated by any city or county government that is used for children's activities. See Tennessee Code 39-17-1603
  • Credit: means the maximum credit for any estate, inheritance, legacy, or succession taxes paid to any state or territory or the District of Columbia, allowable with respect to the gross federal estate tax by §. See Tennessee Code 67-8-202
  • Decedent: means any person who at the time of death is a domiciliary of the state of Tennessee or who owned real estate situated within this state or tangible personal property having actual situs within this state. See Tennessee Code 67-8-202
  • Decedent: A deceased person.
  • deficiency: means :
    (1) The amount by which the tax imposed by this part exceeds the amount shown as the tax by the donor upon the donor's return. See Tennessee Code 67-8-112
  • Department: means the department of revenue. See Tennessee Code 67-8-702
  • Donee: The recipient of a gift.
  • Donor: The person who makes a gift.
  • Donor: means any person responsible for the payment of transfer taxes to the state, including, but not limited to, a personal representative, executor, administrator, individual taxpayer, joint tenant, heir, legatee, devisee, grantee, transferee, trustee, tenant in common, conservator, guardian, custodian, or person interested in an estate or trust. See Tennessee Code 67-8-702
  • Estate: means the entire estate, and/or interest in the estate, of the decedent, that is subject to or liable for the payment of the federal estate tax before deducting any losses or exemptions in accordance with the Internal Revenue Code of 1954. See Tennessee Code 67-8-202
  • Executor: A male person named in a will to carry out the decedent
  • Executor: includes administrator, and any other person liable for the payment of the federal estate tax. See Tennessee Code 67-8-202
  • Executor: means any executor of the will or administrator of the estate of a decedent, except an ancillary administrator. See Tennessee Code 67-8-501
  • Executor: includes an administrator, where the subject matter applies to an administrator. See Tennessee Code 1-3-105
  • Federal estate tax: means the tax imposed by chapter 11 of the Internal Revenue Code of 1954 ( 26 U. See Tennessee Code 67-8-202
  • Federal generation-skipping transfer tax: means the tax imposed by 26 U. See Tennessee Code 67-8-602
  • Generation-skipping transfer: means a transfer subject to the tax imposed by 26 U. See Tennessee Code 67-8-602
  • Government: means the state or any political subdivision of the state, and includes any branch or agency of the state, a county, municipality or other political subdivision. See Tennessee Code 39-11-106
  • Grantor: The person who establishes a trust and places property into it.
  • 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.
  • Group care home: means a home operated by any person, society, agency, corporation, or institution or any group which receives seven (7) or more children for full-time care outside their own homes in facilities owned or rented and operated by the organization. See Tennessee Code 39-17-1603
  • In-kind payment: means a payment of transfer taxes or a portion thereof by the transfer to a receiving entity of qualified property. See Tennessee Code 67-8-702
  • Inheritance tax: means any tax levied by a state on account of the transfer or shifting of economic benefits in property at death, or in contemplation thereof, or intended to take effect in possession or enjoyment at or after death, whether denominated an "inheritance tax" "transfer tax" "succession tax" "estate tax" "death duty" "death dues" or otherwise. See Tennessee Code 67-8-501
  • Interest in real property having state use value: means any interest in real property that is of unique value to the receiving entity to carry out its stated purposes. See Tennessee Code 67-8-702
  • Interested person: means any person who may be entitled to receive, or who has received, any property or interest that may be required to be considered in computing the death tax of any state involved. See Tennessee Code 67-8-501
  • Intestate: Dying without leaving a will.
  • Joint tenancy: A form of property ownership in which two or more parties hold an undivided interest in the same property that was conveyed under the same instrument at the same time. A joint tenant can sell his (her) interest but not dispose of it by will. Upon the death of a joint tenant, his (her) undivided interest is distributed among the surviving joint tenants.
  • Law enforcement officer: means an officer, employee or agent of government who has a duty imposed by law to:
    (A) Maintain public order. See Tennessee Code 39-11-106
  • Legacy: A gift of property made by will.
  • Legatee: A beneficiary of a decedent
  • Levy: as used in this title , includes the power of distraint and seizure by any means. See Tennessee Code 67-1-1404
  • Lineal descendant: Direct descendant of the same ancestors.
  • Marital deduction: The deduction(s) that can be taken in the determination of gift and estate tax liabilities because of the existence of a marriage or marital relationship.
  • Nontaxable property: means all parts of the estate or interest in the estate other than the Tennessee estate. See Tennessee Code 67-8-202
  • Object of significant artistic or historical value: means any object of art, collection, painting, portrait, mural, photograph, statue, tablet, carving, bas-relief, engraving, relic, coin, furniture, textile, basketry, artifact, natural specimen, rare book, author's papers, or other object of artistic, historical, or technical interest or of intrinsic cultural value. See Tennessee Code 67-8-702
  • Original transferor: means any grantor, donor, trustor or testator who by grant, gift, trust or will makes a transfer of real or personal property that results in the imposition of a federal generation-skipping transfer tax under applicable provisions of the Internal Revenue Code (26 U. See Tennessee Code 67-8-602
  • Person: includes the singular and the plural and means and includes any individual, firm, partnership, copartnership, association, corporation, governmental subdivision or agency, or other organization or other legal entity, or any agent or servant thereof. See Tennessee Code 39-11-106
  • Personal representative: when applied to those who represent a decedent, includes executors and administrators, unless the context implies heirs and distributees. See Tennessee Code 1-3-105
  • Probate: Proving a will
  • Property: means anything of value, including, but not limited to, money, real estate, tangible or intangible personal property, including anything severed from land, library material, contract rights, choses-in-action, interests in or claims to wealth, credit, admission or transportation tickets, captured or domestic animals, food and drink, electric or other power. See Tennessee Code 39-11-106
  • Qualified property: means an object of significant artistic or historical value, a site of significant historical interest, an interest in real property having recreational, conservational or wildlife value, or an interest in real property having state use value. See Tennessee Code 67-8-702
  • Receiving entity: means the state of Tennessee, any department or agency thereof, any county, city, or other political subdivision of the state, or any state museum or state institution of health or education. See Tennessee Code 67-8-702
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Representative: when applied to those who represent a decedent, includes executors and administrators, unless the context implies heirs and distributees. See Tennessee Code 1-3-105
  • Residential treatment facility: means a residential treatment facility licensed under title 33, chapter 2, part 4. See Tennessee Code 39-17-1603
  • Right of survivorship: The ownership rights that result in the acquisition of title to property by reason of having survived other co-owners.
  • Savings and loan association: includes a building and loan association, a federal or state savings and loan association, a federal savings bank, and any other financial institution, the accounts of which are insured by the federal savings and loan insurance corporation (FSLIC) or any successor of such corporation. See Tennessee Code 1-3-105
  • School grounds: means any building, structure, and surrounding outdoor grounds contained within a public or private preschool, nursery school, kindergarten, elementary or secondary school's legally defined property boundaries as registered in a county register's office, and any publicly owned or leased vehicle used to transport children to or from school or any officially sanctioned or organized school event. See Tennessee Code 39-17-1603
  • Services: includes labor, skill, professional service, transportation, telephone, mail, gas, electricity, steam, water, cable television, entertainment subscription service or other public services, accommodations in hotels, restaurants or elsewhere, admissions to exhibitions, use of vehicles or other movable property, and any other activity or product considered in the ordinary course of business to be a service, regardless of whether it is listed in this subdivision (a)(38) or a specific statute exists covering the same or similar conduct. See Tennessee Code 39-11-106
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Site of significant historical interest: means any real property, building, or fixture, or any combination thereof, of unique and peculiar historical significance. See Tennessee Code 67-8-702
  • Smoking: means the burning of a lighted cigarette, cigar, pipe or any other substance containing tobacco. See Tennessee Code 39-17-1603
  • State taxes: means the aggregate estate, inheritance, succession, collateral inheritance and/or legacy taxes paid to any state, territory or the District of Columbia, including, also, such taxes of any of those kinds as are imposed by the state of Tennessee other than the Tennessee estate tax imposed by this part, allowable in computing the maximum credit under §. See Tennessee Code 67-8-202
  • Taxing official: means the commissioner of revenue, and in any other reciprocal state, the officer or body designated in the statute of such state substantially similar to this part. See Tennessee Code 67-8-501
  • Tenancy by the entirety: A type of joint tenancy between husband and wife that is recognized in some States. Neither party can sever the joint tenancy relationship; when a spouse dies, the survivor acquires full title to the property.
  • Tennessee estate: means such part of the estate, or interest in the estate, the transfer of which is within the power of the state of Tennessee to subject to the Tennessee estate tax. See Tennessee Code 67-8-202
  • Tennessee estate tax: means the tax imposed by this part. See Tennessee Code 67-8-202
  • Testator: A male person who leaves a will at death.
  • Testimony: Evidence presented orally by witnesses during trials or before grand juries.
  • Transfer taxes: means all the taxes imposed by this chapter, including the inheritance, estate, gift and generation-skipping transfer taxes, and interest and penalties thereon. See Tennessee Code 67-8-702
  • Trustor: The person who makes or creates a trust. Also known as the grantor or settlor.