Kentucky Statutes 140.360 – Limit on reduction of taxable value
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No gross estate shall be reduced by more than $500,000 as a result of the provisions of
KRS 140.300 to 140.360.
Effective: July 1, 1978
History: Created 1978 Ky. Acts ch. 138, sec. 11, effective July 1, 1978.
KRS 140.300 to 140.360.
Terms Used In Kentucky Statutes 140.360
- 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.
Effective: July 1, 1978
History: Created 1978 Ky. Acts ch. 138, sec. 11, effective July 1, 1978.