State Codes and Statutes
Statutes > Rhode-island > Title-44 > Chapter-44-23 > 44-23-25SECTION 44-23-25
§ 44-23-25 Settlement of taxes due. –The tax administrator, with the approval of the attorney general, may effect asettlement of the amount of any taxes imposed by chapter 22 of this title asthey deem to be for the best interests of the state, and the payment of amountagreed upon is a full satisfaction of the taxes; provided, that the settlementand assessment are made only with the consent of the executor of the will orthe trustee under the other instrument, or, in the case of a transfer by willof real estate, of the persons entitled to the real estate, or, if the realestate passes to a trustee for those persons, then of the trustee. Thesettlement, in accordance with the provisions of this section, of a tax uponany transfer of property subject to a power of appointment, if the agreement ofsettlement provides, precludes the assessment under this chapter or under anyact hereafter passed of any further tax, with respect to the right to transfer,upon or with respect to the transfer of any property at the time subject to thepower, as a part of the estate of the donee of the power. The agreement isbinding upon all persons taking property subject to the tax, except for fraudor manifest error; and executors and trustees are expressly authorized to enterinto an agreement unless a contrary intention appears in the instrumentdefining their powers.
