Code of Virginia - Title 58.1 Taxation - Chapter 9 Virginia Estate Tax

58.1-900 Title
This chapter shall be known and may be cited as the "Virginia Estate Tax Act." (Code 1950, § 58-238.1; 1978, c. 838; 1984, c. 675.) ...

58.1-901 Definitions
As used in this chapter, unless the context clearly shows otherwise, the term or phrase: "Decedent" means a deceased person. "Federal credit" means the maximum ...

58.1-902 Tax on transfer of taxable estate of residents; amounts; credit; property of resident define...
A. A tax in the amount of the federal credit is imposed on the transfer of the taxable estate of every resident, subject, where applicable, ...

58.1-903 Tax on transfer of taxable estate of nonresidents; property of nonresident defined
A. A tax in an amount computed as provided in this section is imposed on the transfer of every nonresident's taxable estate located in the ...

58.1-904 Tax upon estates of alien decedents
A. A tax in an amount computed as provided in this section is imposed upon the transfer of real property and tangible personal property having ...

58.1-905 Filing returns; payment of tax due thereon
A. The personal representative of every estate subject to the tax imposed by this chapter who is required by the laws of the United States ...

58.1-906 Amended returns
A. If the personal representative files an amended federal estate tax return, he shall immediately file with the Department an amended return covering the tax ...

58.1-907 Certification of payment by Department
Upon the payment of the estate tax, or if no tax is due pursuant to a filing under § 58.1-905 or § 58.1-906, upon the ...

58.1-908 Nonpayment of tax; lien for unpaid taxes; certificate of release from lien
A. A lien shall arise as follows upon all property, real or personal, located in the Commonwealth of Virginia, of every decedent having a taxable ...

58.1-909 Liability of personal representative
The tax and interest imposed by this chapter shall be paid by the personal representative. If any personal representative distributes either in whole or in ...

58.1-910 Duty of resident representative of a nonresident decedent
A resident personal representative holding personal property of a deceased nonresident subject to the tax shall deduct the tax or collect it from the personal ...

58.1-911 Final account
No final account of a personal representative shall be approved by a commissioner of accounts unless the commissioner finds that all state, county or city ...

58.1-912 Deposit of funds
All moneys collected pursuant to this chapter shall be paid into the general fund of the state treasury. (Code 1950, § 58-238.15; 1978, c. 838; ...

58.1-913 Proof of payment of death taxes to state of domicile
At any time before the expiration of eighteen months after the qualification in this Commonwealth of any executor of the will or administrator of the ...

58.1-914 Notice to domiciliary state if proof not filed
If such proof is not filed within the time limit set out in § 58.1-913, then the clerk of the court shall forthwith notify by ...

58.1-915 Petition of domiciliary state for accounting
Within sixty days after the mailing of such notice, the official or body charged with the administration of the death tax laws of the domiciliary ...

58.1-916 Final accounting not granted without compliance
Unless the provisions of either § 58.1-914 or § 58.1-915 have been complied with, no such executor or administrator shall be entitled to a final ...

58.1-917 To what nonresident estates article applies
The provisions of this article shall apply to the estate of any nonresident decedent if the laws of the state of his domicile contain a ...

58.1-918 How article construed
The provisions of this article shall be liberally construed in order to ensure that the state of domicile of any decedent shall receive any death ...

58.1-919 Meaning of "state."
For the purpose of this article the word "state" shall be construed to include any territory of the United States, the District of Columbia and ...

58.1-920 Title of article
This article shall be known and may be cited as the "Uniform Act on Interstate Compromise and Arbitration of Death Taxes." (Code 1950, § 58-238.25; ...

58.1-921 Interpretation
This article shall be so interpreted and construed as to effectuate its general purpose to make uniform the law of those states which enact it. ...

58.1-922 Dispute as to domicile; compromise agreement
When the Tax Commissioner claims that a decedent was domiciled in this Commonwealth at the time of his death and the taxing authorities of other ...

58.1-923 Arbitration agreement; board of arbitrators
When the Tax Commissioner claims that a decedent was domiciled in this Commonwealth at the time of his death and the taxing authorities of another ...

58.1-924 Hearings by board; testimony and witnesses; production of documents
The board shall hold hearings at such times and places as it may determine, upon reasonable notice to the parties to the agreement, all of ...

58.1-925 Determination of domicile of decedent
The board shall determine the domicile of the decedent at the time of his death. This determination shall be final for purposes of imposing and ...

58.1-926 Record of proceedings, agreement, etc., to be filed with taxing authorities
The Tax Commissioner, the board or the executor or administrator of such decedent shall file the determination of the board as to domicile, the record ...

58.1-927 When penalties and interest not imposed
In any case where it is determined by the board that the decedent died domiciled in Virginia, interest or penalties, if otherwise imposed by law, ...

58.1-928 Nothing in article to prevent compromise
Nothing contained in this article shall prevent at any time a written compromise, if otherwise lawful, by all parties to the agreement made pursuant to ...

58.1-929 Compensation and expenses of board members and employees
The compensation and expenses of the members of the board and its employees may be agreed upon by such members and the executor or administrator ...

58.1-930 Reciprocal application of arbitration provisions
The provisions of this article relative to arbitration shall apply only to cases in which and so far as each of the states involved has ...

58.1-931 Imposition of tax
A. When the gross estate of a decedent at the date of death is of such value as to require filing a federal estate tax ...

58.1-932 Qualified heir personally liable
The qualified heir shall be personally liable for the additional tax imposed under § 58.1-931. The amount of the adjusted tax difference attributable to an ...

58.1-933 Notice of disposition or change in use of property
Any qualified heir is required to notify the Commissioner, on a form prescribed by the Commissioner, of any disposition or change in use of the ...

58.1-934 Purpose
The purpose of this article is to recapture the excess of the estate tax liability which would have been incurred had the special use valuation ...

58.1-935 Definitions
A. Terms, phrases, and words used in this article, except for those defined in subsection B of this section, shall be defined as they are ...

58.1-936 Imposition of tax
A. A tax is hereby imposed upon every generation skipping transfer, where the original transferor is a resident of the Commonwealth of Virginia at the ...

58.1-937 Filing of return; payment of tax
A. Every person required to file a return reporting a generation skipping transfer under applicable federal statutes and regulations shall file a return with the ...

58.1-938 Amended return; additional tax
If, after the filing of a duplicate federal generation skipping tax return, the federal authorities increase or decrease the amount of the federal generation skipping ...