West Virginia Code 11-11-12 – Report of change in federal estate tax
(a) Report of federal change. — If the amount of the federal taxable estate reported on federal estate tax return is changed or corrected by the United States Internal Revenue Service, or other competent authority, the personal representative shall report the change or correction within ninety days after the final determination of the change, or correction, or as otherwise required by the Tax Commissioner. Such report shall concede the accuracy of the change, or correction, or state whether and wherein the determination is believed to be erroneous. The imposition of an additional federal estate tax under Section 2032A of the Internal Revenue Code shall constitute a change. The Tax Commissioner may by regulation prescribe exceptions to the requirements of this section as he deems appropriate.
Terms Used In West Virginia Code 11-11-12
- Commissioner: means the State Tax Commissioner. See West Virginia Code 11-22-1
- 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
- notice: means a written notice sent to the last known address of the addressee and shall be effective upon mailing. See West Virginia Code 11-11-2
- personal representative: includes the executor of a will, the administrator of the estate of a deceased person, the administrator of such estate with the will annexed, the administrator de bonis non of such estate, whether there be a will or not, the sheriff or other officer lawfully charged with the administration of the estate of a deceased person, and every other curator or committee of a decedent'. See West Virginia Code 11-11-2
- 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
- Tax Commissioner: means the Tax Commissioner of the State of West Virginia or his or her delegate. See West Virginia Code 11-11-2
- taxable estate: means the taxable estate of the decedent as defined in Section 2051 (or Section 2106 in the case of an alien) of the United States Internal Revenue Code of 1954, as amended or renumbered, or in successor provisions of the laws of the United States. 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
(b) Payment of deficiency. — If, based upon any deficiency in federal estate tax and the ground therefore, it shall appear that the amount of tax previously paid under this article is less than the amount of tax due and owing, the difference together with interest at the rate of one percent per month from the date the tax became delinquent under this article shall be remitted at the time the notice required by this section is filed.
(c) Failure to give notice. — In the event the personal representative required to file the return and pay the tax required by this article shall fail to give the notice required by this section, any additional tax which may be due and owing may be assessed by the Tax Commissioner at any time notwithstanding the provisions of section fifteen, article ten of this chapter.