Texas Tax Code - Section 211.051. Tax On Property Of Resident
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Texas Laws > Tax Code > Texas Tax Code - Section 211.051. Tax On Property Of Resident
Section: 204.007 204.008 204.009 204.010 211.001 211.002 211.003 211.051 211.052 211.053 211.054 211.055 211.056 211.101 211.102
§ 211.051. TAX ON PROPERTY OF RESIDENT. (a) A tax equal
to the amount of the federal credit is imposed on the transfer at
death of the property of every resident.
(b) If the estate of a resident is subject to a death tax
imposed by another state or states for which the federal credit is
allowable, the amount of the tax due under this section is reduced
by the lesser of:
(1) the amount of the death tax paid the other state or
states and that is allowable as the federal credit; or
(2) an amount determined by multiplying the federal
credit by a fraction, the numerator of which is the value of the
resident's gross estate less the value of the property of a
resident, as defined by Section (c) of this section, that is
included in the gross estate and the denominator of which is the
value of the resident's gross estate.
(c) Property of a resident includes real property having an
actual situs in this state whether or not held in trust; tangible
personal property having an actual situs in this state; and all
intangible personal property, wherever the notes, bonds, stock
certificates, or other evidence, if any, of the intangible personal
property may be physically located or wherever the banks or other
debtors of the decedent may be located or domiciled; except that
real property in a personal trust is not taxed if the real property
has an actual situs outside this state.
Amended by Acts 1981, 67th Leg., p. 2759, ch. 752, § 6(a), eff.
Jan. 1, 1982.
Last modified: August 11, 2007