Probate court determination of tax due as provisional estimate;
redetermination resulting from federal estate tax valuation
Sec. 6. (a) The department of state revenue may accept a probate
court's determination of the inheritance tax due as a result of a
decedent's death as a provisional estimate of the inheritance tax
imposed.
(b) If the final determination of federal estate tax shows a change
in the fair market value of the assets of a decedent's estate or a
change in deductions, the department of state revenue may petition
or cause other persons to petition the probate court which has
jurisdiction for a redetermination of the inheritance tax imposed as
a result of the decedent's death. The petition must be filed within
sixty (60) days after a copy of the final determination of federal
estate tax is filed with the department as required by IC 6-4.1-4-8. An
inheritance tax redetermination which is made under this section is
limited to modifications based on either a change in the fair market
value of the assets of the decedent's estate or a change in deductions.
As added by Acts 1976, P.L.18, SEC.1. Amended by Acts 1979,
P.L.75, SEC.11; P.L.48-1992, SEC.2.
Last modified: May 28, 2006