West Virginia Code 11-11-3 – Imposition of tax
Whenever a federal estate tax is payable to the United States, there is hereby imposed a West Virginia estate tax equal to the portion, if any, of the maximum allowable amount of federal credit for state death taxes which is attributable to property located in this state, or within its taxing jurisdiction. In no event, however, shall the estate tax hereby imposed result in a total death tax liability to this state and the United States in excess of the death tax liability to the United States which would result if this article were not in effect: Provided, That the estate tax hereby imposed shall not be affected by other credits properly allowable in computing the federal estate tax except that the unified credit established in Section 2010 of the Internal Revenue Code of 1986, as amended, shall be applied before calculating the West Virginia estate tax.
Terms Used In West Virginia Code 11-11-3
- federal credit: means the maximum amount of the credit for state death taxes allowable by Section 2011, credit against federal estate tax (or Section 2102 in the case of an alien) and Section 2602, credit against the federal tax on generation-skipping transfers of the United States Internal Revenue Code of 1954, as amended or renumbered, or in successor provisions of the laws of the United States, in respect to a decedent'. See West Virginia Code 11-11-2
- Internal Revenue Code: means the United States Internal Revenue Code of 1954, as amended and in effect on January 1, 1985, including all changes to such code enacted subsequent to such date, that are similar to or a replacement of the section cited or referred to. See West Virginia Code 11-11-2
- Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
- state: means any state, territory or possession of the United States and the District of Columbia. See West Virginia Code 11-11-2
- tax: means the tax imposed by this article, and includes any additions to tax, penalties and interest imposed by this article or article ten of this chapter. See West Virginia Code 11-11-2
- this state: means the State of West Virginia. See West Virginia Code 11-11-2
- United States: when used in a geographical sense, includes only the fifty states and the District of Columbia. See West Virginia Code 11-11-2