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estate remained liable to pay $392,106.342 of Ohio estate taxes
under section 5731.24 of Ohio Rev. Code Ann. (Anderson 1996)
within 60 days after the date of the Federal estate tax closing
letter.
2. Distributions to Trust A
Trust B transferred to Trust A assets with a total fair
market value of $2 million on June 7 and 12, 1990. Following the
$2 million transfer to Trust A, Trust B had only cash or cash
equivalents and Ripplestone.
3. Receipts
The estate filed its estate tax return on March 16, 1990.
From that date to December 31, 1993, Trust B had $333,395 in
income as follows:
Year Interest Dividends Total
1990 $194,193 $44,083 $238,276
1991 55,234 55,234
1992 40,085 40,085
333,595
Trust B transferred the following amounts to Trust C:
Year Interest Dividends Total
1990 $176,337 $40,030 $216,367
1991 38,518 38,518
1992 23,385 23,385
278,270
2 This amount is the difference between the regular Ohio
estate tax under sec. 5731.02 of the Ohio Rev. Code Ann.
(Anderson 1996) of $679,549.92 and the $1,071,656.26 State estate
tax credit reported on line 15 of Form 706.
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