Proposed Text
CHAPTER 300
ESTATE TAX (REPEALED)
23VAC10-300-20. Definitions. (Repealed.)
A. Federal credit. The following table gives the
computation of the maximum credit that was allowable under § 2011 on January 1,
1978:
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
B. "Nonresident alien" means a decedent who was
not a resident or citizen of the United States at the time of his or her death.
C. Personal representative includes persons listed in §
1-13.21, Code of Virginia.
D. "Resident means a decedent who was domiciled in the
Commonwealth of Virginia at his death." § 58.1-901. The determination of
domicile is a factual matter which must be resolved on an individual case
basis. A person can have only one domicile. If he has two or more places of
abode, his domicile is the one which is determined to be his permanent home.
Consideration is given to a number of factors in determining a decedent's
domicile, including the following: length of time of residence; place of birth
and marriage; place of business, profession or employment; residence of family;
reason for acquiring or abandoning domicile; situs of real and tangible
property; location of savings and checking accounts; motor vehicle registration
and licensing; motor vehicle operator's license; voter registration; membership
in clubs and civic groups; charitable contributions; in the case of a minor
decedent, domicile of parents; and in the case of a married decedent, domicile
of husband or wife and children.
No single factor is dispositive in determining domicile;
rather, the factors are examined collectively to determine if the intent to
acquire or abandon Virginia domicile exists. A simple declaration of intent to
abandon domicile, or physical presence elsewhere, is insufficient to abrogate
Virginia domicile.
E. Resident alien means a decedent who was not a citizen of
the United States, but was a resident of the United States.
23VAC10-300-30. Out-of-state tax credit against resident's
tax. (Repealed.)
The amount calculated in § 58.1-902 B (2) is described by
the formula which follows.
Note: This calculation is to be compared with the calculation
under § 58.1-902 B (1), and the lesser amount will be the out-of-state tax
credit.
|
|
|
|
The credit under § 58.1-902B(1) and (2) will be computed on
a state-by-state basis. If a state does not impose a death tax, there will be
no credit for property located in that state.
23VAC10-300-50. Alien decedent's tax. (Repealed.)
A. The formula for an alien decedent's tax calculated under
§ 58.1-904 A is as follows:
|
|
|
__________________ |
||
|
B. The "value of property taxable in Virginia" in
the numerator of the formula in § 58.1-904 A means the value reported for
federal estate tax purposes of:
1. Real property located in Virginia;
2. Tangible personal property having an actual situs in
Virginia;
3. Intangible property physically present in Virginia,
including, but not limited to:
a. Stock in a corporation organized under the laws of
Virginia;
b. Interests in real property located in Virginia, including
mineral interests, royalties, production payments, leasehold interests, or
working interests in oil, gas, coal or any other minerals;
c. Bonds issued by Virginia corporations or political
subdivisions;
d. Deposits in Virginia financial institutions;
e. Contract rights, royalties, accounts payable and other
debts owed by Virginia residents to the decedent; and
f. Any other valuable rights which can be enforced in
Virginia courts.
23VAC10-300-80. Certification of payment. (Repealed.)
If a return is required to be filed, the department will
certify the payment of the tax, or that no tax is due, to the personal
representative and will file a copy with the Internal Revenue Service. The
department will not record these certifications with clerks of court. No
certification will be issued if no tax return is required to be filed under §
58.1-905.
23VAC10-300-90. Nonpayment of tax; lien for unpaid taxes;
certificates of release from lien. (Repealed.)
No lien attaches to real or personal property of a
nonresident decedent unless the estate of the nonresident decedent is taxable and
the proper tax is not paid. A release of lien on a nonresident estate will be
issued upon request after receipt by the department of a copy of the federal
closing letter.
FORMS (23VAC10-300)
Virginia Estate Tax Return, Form EST-80 (rev. 3/07).