Signed by Governor Jack Markell

Vote Smart's Synopsis:

Vote to pass a bill that amends Delaware's code relating to the estate tax, placing the tax at the level of the amount of the federal estate tax that was distributed to the state prior to 2002.

Highlights:

-Requires that the amount of the tax shall be the amount of credit allowable under the provisions of the federal estate tax laws for estate, inheritance, legacy and succession taxes paid to any state, with the exceptions of the provisions listed in sub section 1503 (Sec. 2). -Requires that the amount of tax shall be determined using the amount of credit allowable by Sub Section 2011 of the Internal Revenue Code as it was in effect as of January 1, 2001 (Sec. 3). -Requires that an estate tax return be filed in all cases when a resident decedent or nonresident decedent having real or tangible personal property situated in this State would have been required to file a federal estate tax under the provisions of the internal Revenue as it was in effect as of January 1, 2001 (Sec. 5).

Full Bill Text

Vote Smart's Synopsis:

Vote to pass a bill that amends Delaware' code relating to the estate tax, placing the tax at the level of the amount of the federal estate tax that was distributed to the state prior to 2002.

Highlights:

-Requires that the amount of the tax shall be the amount of credit allowable under the provisions of the federal estate tax laws for estate, inheritance, legacy and succession taxes paid to any state, with the exceptions of the provisions listed in sub section 1503 (Sec. 2). -Requires that the amount of tax shall be determined using the amount of credit allowable by Sub Section 2011 of the Internal Revenue Code as it was in effect as of January 1, 2001 (Sec. 3). -Requires that an estate tax return be filed in all cases when a resident decedent or nonresident decedent having real or tangible personal property situated in this State would have been required to file a federal estate tax under the provisions of the internal Revenue as it was in effect as of January 1, 2001 (Sec. 5).

Full Bill Text