10-40 IMPOSITION AND AMOUNT OF INHERITANCE TAX
IMPOSITION AND AMOUNT OF INHERITANCE TAX
Definition of terms.
Tax imposed--Transfers subject to tax.
Contemplation of death presumed where instrument delivered on or after death.
Personal property of nonresident exempt if state of residence does not tax South
Dakota residents--Tangible personal property excepted.
Personal property of nonresident exempt if state of residence grants reciprocal
exemption--Tangible personal property excepted.
Jurisdictions to which reciprocal exemptions extend.
Uniformity of interpretation of reciprocal exemptions.
Time of imposition of tax.
Taxation of property held jointly by husband and wife.
Taxation of property held jointly other than by husband and wife.
Joint property provisions retroactive.
Exercise of power of appointment as taxable transfer--Failure to exercise power.
Taxation of transfer in trust.
Valuation of estates dependent on lives in being.
Valuation of estate subject to divestiture by act of legatee or devisee.
Contingent and conditional transfers taxed at highest possible rate--Return of
overpayment on happening of contingency taxed at lower rate--Exception.
Residuary trust for spouse taxed as life estate.
Valuation of estate subject to contingency--Return of overpayment on happening of
Contingent transfer taxed when transferee comes into possession.
Removal of charge against estate taxed as transfer from original donor.
Estates in expectancy taxed at full value on coming into possession.
Primary rates of tax.
Increased rates of tax on large estates.
Personal, charitable and educational exemptions from tax.
Spousal transfers exempt from tax.
Exempt spousal transfer subject to tax when transferred at death.
Relationship determining tax rate on spousal transfer.
Inheritance tax exemption for lineal issue--Revised.
Exemptions in § 10-40-23.4--Death of decedent during specified time period.
Valuation of property transferred--Debts and expenses of administration deducted.
Homestead deduction not allowed.
Federal estate tax deduction not allowed.