59-11-104 - Tax on transfer of taxable estate of nonresidents -- Amount -- Property of a nonresident defined -- Exemptions. - Utah Statutes

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Statutes > Utah > Title-59 > Chapter-11 > 59-11-104

59-11-104. Tax on transfer of taxable estate of nonresidents -- Amount -- Propertyof a nonresident defined -- Exemptions.
(1) A tax is imposed on the transfer of the taxable estate located in this state of everynonresident.
(2) The tax is the amount computed by multiplying the federal credit by a fraction, thenumerator of which is the value of the property located in this state and the denominator of whichis the value of the decedent's gross estate.
(3) The property located in this state of a nonresident includes:
(a) real property and real property interests located in this state including mineralinterests, royalties, production payments, leasehold interests, or working interests in oil, gas, orany other minerals;
(b) tangible personal property having actual situs in this state, including money;
(c) intangible personal property having a trade or business situs in this state, includingdeposits in banks, negotiable instruments, debts, receivables, shares of stock, bonds, notes,evidences of an interest in property, evidences of debt, and choses in action; and
(d) the securities of any corporation or other entity organized under the laws of this state.
(4) The transfer of the property described in Subsections (3)(c) and (3)(d) is exempt fromthe tax imposed by this section to the extent that the same types of property of a resident areexempt from death taxes of the other state where the nonresident resides.

Renumbered and Amended by Chapter 2, 1987 General Session

State Codes and Statutes

Statutes > Utah > Title-59 > Chapter-11 > 59-11-104

59-11-104. Tax on transfer of taxable estate of nonresidents -- Amount -- Propertyof a nonresident defined -- Exemptions.
(1) A tax is imposed on the transfer of the taxable estate located in this state of everynonresident.
(2) The tax is the amount computed by multiplying the federal credit by a fraction, thenumerator of which is the value of the property located in this state and the denominator of whichis the value of the decedent's gross estate.
(3) The property located in this state of a nonresident includes:
(a) real property and real property interests located in this state including mineralinterests, royalties, production payments, leasehold interests, or working interests in oil, gas, orany other minerals;
(b) tangible personal property having actual situs in this state, including money;
(c) intangible personal property having a trade or business situs in this state, includingdeposits in banks, negotiable instruments, debts, receivables, shares of stock, bonds, notes,evidences of an interest in property, evidences of debt, and choses in action; and
(d) the securities of any corporation or other entity organized under the laws of this state.
(4) The transfer of the property described in Subsections (3)(c) and (3)(d) is exempt fromthe tax imposed by this section to the extent that the same types of property of a resident areexempt from death taxes of the other state where the nonresident resides.

Renumbered and Amended by Chapter 2, 1987 General Session

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State Codes and Statutes

Statutes > Utah > Title-59 > Chapter-11 > 59-11-104

59-11-104. Tax on transfer of taxable estate of nonresidents -- Amount -- Propertyof a nonresident defined -- Exemptions.
(1) A tax is imposed on the transfer of the taxable estate located in this state of everynonresident.
(2) The tax is the amount computed by multiplying the federal credit by a fraction, thenumerator of which is the value of the property located in this state and the denominator of whichis the value of the decedent's gross estate.
(3) The property located in this state of a nonresident includes:
(a) real property and real property interests located in this state including mineralinterests, royalties, production payments, leasehold interests, or working interests in oil, gas, orany other minerals;
(b) tangible personal property having actual situs in this state, including money;
(c) intangible personal property having a trade or business situs in this state, includingdeposits in banks, negotiable instruments, debts, receivables, shares of stock, bonds, notes,evidences of an interest in property, evidences of debt, and choses in action; and
(d) the securities of any corporation or other entity organized under the laws of this state.
(4) The transfer of the property described in Subsections (3)(c) and (3)(d) is exempt fromthe tax imposed by this section to the extent that the same types of property of a resident areexempt from death taxes of the other state where the nonresident resides.

Renumbered and Amended by Chapter 2, 1987 General Session