As used in this part, unless the context otherwise requires:

(1) “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 § 2011 of the Internal Revenue Code of 1954 ( 26 U.S.C. § 2011 ), the maximum credit, however, to be reduced in the proportion that the amount of the nontaxable property bears to the amount of the entire estate of the decedent;
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Terms Used In Tennessee Code 67-8-202

  • Code: includes the Tennessee Code and all amendments and revisions to the code and all additions and supplements to the code. See Tennessee Code 1-3-105
  • 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: A deceased person.
  • 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
  • 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
  • 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
  • Legacy: A gift of property made by will.
  • Nontaxable property: means all parts of the estate or interest in the estate other than the Tennessee estate. See Tennessee Code 67-8-202
  • Person: includes a corporation, firm, company or association. See Tennessee Code 1-3-105
  • 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
  • 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
(2) “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;
(3) “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;
(4) “Executor” includes administrator, and any other person liable for the payment of the federal estate tax;
(5) “Federal estate tax” means the tax imposed by chapter 11 of the Internal Revenue Code of 1954 ( 26 U.S.C. § 2001 et seq.);
(6) “Nontaxable property” means all parts of the estate or interest in the estate other than the Tennessee estate;
(7) “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 § 2011 of the Internal Revenue Code of 1954 ( 26 U.S.C. § 2011 ), except such taxes of any of the above kinds or with respect to nontaxable property of the decedent;
(8) “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; and
(9) “Tennessee estate tax” means the tax imposed by this part.
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