Inheritance Tax
Forms and Other Information
Taxes at a Glance
Inheritance and estate taxes are imposed on decedents' estates that exceed the maximum single exemption. Inheritance tax is due on the net estate as defined in Tennessee Code Annotated. Estate tax is based on the difference between the inheritance tax and the “state death tax credit” allowed on the federal estate tax return.
Exemptions
| Date of Death | Amount |
| 1999 | $650,000 |
| 2000 & 2001 | $675,000 |
| 2002 & 2003 | $700,000 |
| 2004 | $850,000 |
| 2005 | $950,000 |
| 2006 and after | $1,000,000 |
Due Date:
Nine months after death of the decedent
Extension - An extension of up to one year is granted provided one of the following is attached to the return filed on or before the extended due date:
- Tennessee INH304 Application for Extension of Time to File Inheritance Tax Return.
- Federal form 4768 Application for Extension of Time to File a Return and/or Pay U.S. Estate Tax.
Tax Rate:
Note the statutory exemptions listed above. Anything over the exemptions are taxed at the following rates:
| First $40,000 | 5.5% |
| Next $40,000 - $240,000 | 6.5% |
| Next $240,000 - $440,000 | 7.5% |
| $440,000 and over | 9.5% |
For more information, please call (615) 532-6438
Click here for mailing address and other contact information.
