Manner of property distribution; circumstances where court
determination required; finality
Sec. 4. For purposes of determining the inheritance tax imposed
on a decedent's transfer of specific property, the appropriate probate
court shall, so far as possible, determine the manner in which the
property will probably be distributed if:
(1) a contingency makes it impossible to determine each
transferee's exact interest in the property; and
(2) the department of state revenue and the taxpayer fail, within
a reasonable time, to enter into an agreement under section 3 of
this chapter.
Unless the court's determination is appealed, it is final and binding
on all parties.
As added by Acts 1976, P.L.18, SEC.1.
Last modified: May 28, 2006