State Codes and Statutes

Statutes > Kentucky > 140-00 > 090

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140.090 Deductions allowed from distributive shares. (1) In calculating the value of the distributive shares the following deductions and no others shall be allowed: <br>(a) Debts of the decedent, except debts secured by property not subject to the tax jurisdiction of Kentucky; and except debts barred by the statute of limitations; (b) Taxes accrued and unpaid, except those on property not subject to the tax jurisdiction of Kentucky; (c) Death duties paid to foreign countries; <br>(d) Federal estate taxes, in the proportion which the net estate in Kentucky subject to federal estate taxes bears to the total net estate everywhere subject to <br>federal estate taxes; all calculations are subject to approval by the Department <br>of Revenue; (e) Drainage, street, or other special assessments due and unpaid which are a lien on said property; (f) Funeral, monument, and cemetery lot maintenance expenses actually paid not exceeding in total five thousand dollars (&#36;5,000); (g) Commission of executors and administrators in the amount actually allowed and paid; (h) Cost of administration, including attorney's fees actually allowed and paid. (2) Notwithstanding the provisions of KRS 404.040, the debts of a deceased wife, subject to the exception in subsection (1)(a), shall be allowed in calculating the <br>distributive shares of her estate for purposes of this chapter, provided such debts are <br>paid from the proceeds of her estate. Effective: June 20, 2005 <br>History: Amended 2005 Ky. Acts ch. 85, sec. 454, effective June 20, 2005. -- Amended 1990 Ky. Acts ch. 142, sec. 2, effective July 13, 1990. -- Amended 1976 Ky. Acts <br>ch. 155, sec. 25. -- Amended 1974 Ky. Acts ch. 86, sec. 1. -- Amended 1948 Ky. <br>Acts ch. 96, secs. 4 and 12. -- Amended 1942 Ky. Acts ch. 204, sec. 5. -- Recodified <br>1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4281a-<br>22.

State Codes and Statutes

Statutes > Kentucky > 140-00 > 090

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140.090 Deductions allowed from distributive shares. (1) In calculating the value of the distributive shares the following deductions and no others shall be allowed: <br>(a) Debts of the decedent, except debts secured by property not subject to the tax jurisdiction of Kentucky; and except debts barred by the statute of limitations; (b) Taxes accrued and unpaid, except those on property not subject to the tax jurisdiction of Kentucky; (c) Death duties paid to foreign countries; <br>(d) Federal estate taxes, in the proportion which the net estate in Kentucky subject to federal estate taxes bears to the total net estate everywhere subject to <br>federal estate taxes; all calculations are subject to approval by the Department <br>of Revenue; (e) Drainage, street, or other special assessments due and unpaid which are a lien on said property; (f) Funeral, monument, and cemetery lot maintenance expenses actually paid not exceeding in total five thousand dollars (&#36;5,000); (g) Commission of executors and administrators in the amount actually allowed and paid; (h) Cost of administration, including attorney's fees actually allowed and paid. (2) Notwithstanding the provisions of KRS 404.040, the debts of a deceased wife, subject to the exception in subsection (1)(a), shall be allowed in calculating the <br>distributive shares of her estate for purposes of this chapter, provided such debts are <br>paid from the proceeds of her estate. Effective: June 20, 2005 <br>History: Amended 2005 Ky. Acts ch. 85, sec. 454, effective June 20, 2005. -- Amended 1990 Ky. Acts ch. 142, sec. 2, effective July 13, 1990. -- Amended 1976 Ky. Acts <br>ch. 155, sec. 25. -- Amended 1974 Ky. Acts ch. 86, sec. 1. -- Amended 1948 Ky. <br>Acts ch. 96, secs. 4 and 12. -- Amended 1942 Ky. Acts ch. 204, sec. 5. -- Recodified <br>1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4281a-<br>22.

State Codes and Statutes

State Codes and Statutes

Statutes > Kentucky > 140-00 > 090

Download pdf
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140.090 Deductions allowed from distributive shares. (1) In calculating the value of the distributive shares the following deductions and no others shall be allowed: <br>(a) Debts of the decedent, except debts secured by property not subject to the tax jurisdiction of Kentucky; and except debts barred by the statute of limitations; (b) Taxes accrued and unpaid, except those on property not subject to the tax jurisdiction of Kentucky; (c) Death duties paid to foreign countries; <br>(d) Federal estate taxes, in the proportion which the net estate in Kentucky subject to federal estate taxes bears to the total net estate everywhere subject to <br>federal estate taxes; all calculations are subject to approval by the Department <br>of Revenue; (e) Drainage, street, or other special assessments due and unpaid which are a lien on said property; (f) Funeral, monument, and cemetery lot maintenance expenses actually paid not exceeding in total five thousand dollars (&#36;5,000); (g) Commission of executors and administrators in the amount actually allowed and paid; (h) Cost of administration, including attorney's fees actually allowed and paid. (2) Notwithstanding the provisions of KRS 404.040, the debts of a deceased wife, subject to the exception in subsection (1)(a), shall be allowed in calculating the <br>distributive shares of her estate for purposes of this chapter, provided such debts are <br>paid from the proceeds of her estate. Effective: June 20, 2005 <br>History: Amended 2005 Ky. Acts ch. 85, sec. 454, effective June 20, 2005. -- Amended 1990 Ky. Acts ch. 142, sec. 2, effective July 13, 1990. -- Amended 1976 Ky. Acts <br>ch. 155, sec. 25. -- Amended 1974 Ky. Acts ch. 86, sec. 1. -- Amended 1948 Ky. <br>Acts ch. 96, secs. 4 and 12. -- Amended 1942 Ky. Acts ch. 204, sec. 5. -- Recodified <br>1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4281a-<br>22.