Tennessee § 67-8-603 - Imposition of tax — Credits.
Full text of Tennessee Tennessee Code Annotated § 67-8-603 — Imposition of tax — Credits., with citation guidance and answers to common questions.
§ 67-8-603. Imposition of tax — Credits.
A tax is imposed upon every generation-skipping transfer in an amount equal to the amount allowable as a credit for state inheritance taxes under 26 U.S.C. § 2604. If any of the property transferred is real property located in another state or is tangible personal property having an actual situs in another state that requires the payment of a tax for which credit is received against the federal generation-skipping transfer tax, any tax due pursuant to subsection (a) shall be reduced by an amount that bears the same ratio to the total state tax credit allowable for federal generation-skipping transfer tax purposes as the value of such property taxable in such other state bears to the value of the gross generation-skipping transfer for federal generation-skipping transfer tax purposes. Acts 1978, ch. 731, § 14; T.C.A., § 67-6103; Acts 1988, ch. 613, § 2. Textbooks. Pritchard on Wills and Administration of Estates (4th ed., Phillips and Robinson), § 972. Tennessee Jurisprudence, 23 Tenn. Juris., Taxation, § 72. Law Reviews. The 1978 Tennessee Inheritance and Gift Tax Reform Act (R. Wayne Peters and Steven A. Rajtor), 14-3 Tenn. B.J. 4.
Source: official Tennessee text · Last verified 2026-08-27
Frequently Asked Questions About Tennessee § 67-8-603
What does Tennessee Code Annotated § 67-8-603 cover?
Section 67-8-603 ("Imposition of tax — Credits.") is part of the Tennessee Code Annotated, the codified statutory law of Tennessee. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Tennessee § 67-8-603?
A common citation format is "Tennessee Code Annotated § 67-8-603" (Tennessee). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Tennessee law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Tennessee official source linked on this page or consult a licensed Tennessee attorney.
How does Tennessee § 67-8-603 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Tennessee can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Tennessee.