Effective: July 1, 1993
Latest Legislation: Senate Bill 336 - 118th General Assembly
For purposes of the tax levied by section 5731.02 of the Revised Code, the value of the taxable estate shall be determined by deducting from the value of the gross estate:
(A) If the decedent dies on or after July 1, 1993 and is survived by a spouse, a marital deduction which shall be allowed in an amount equal to the value of any interest in property that passes or has passed from the decedent to the surviving spouse, but only to the extent the interest is included in the value of the gross estate. For purposes of the marital deduction, an interest in property shall be considered as passing or as having passed from the decedent to the surviving spouse only if one or more of the following apply:
(1) The interest was bequeathed or devised to the surviving spouse in the will of the decedent;
(2) The interest was inherited by the surviving spouse through intestate succession from the decedent;
(3) The interest is a dower interest of the surviving spouse, or the interest is an estate of the surviving spouse that is authorized by the Revised Code and that is in lieu of dower;
(4) The decedent transferred the interest to the surviving spouse at any time;
(5) At the time of the death of the decedent, the interest was held by the decedent and the surviving spouse, or by the decedent, the surviving spouse, and one or more other persons, in any form of joint ownership with a right of survivorship;
(6) The decedent, alone or in conjunction with any other person, had a power to appoint the interest and the interest was so appointed to the surviving spouse, or the surviving spouse acquired the interest as a result of the release or the nonexercise of the power.
(B)(1) In addition to the marital deduction provided by division (A) of this section, if an election is made in accordance with division (B)(2) of this section and the decedent dies on or after July 1, 1993, a qualified terminable interest property deduction. This deduction shall be allowed in an amount equal to all or any specific portion of qualified terminable interest property treated as separate property, but only to the extent that the property is included in the value of the gross estate.
(2) An election to have property treated as qualified terminable interest property for purposes of the deduction provided by division (B)(1) of this section shall be made by the person filing the estate tax return under this chapter, in writing, on or before the date by which the return is required to be filed, determined with regard to any extension of time granted for the filing of the return. The election shall specify whether all or only a specific portion of qualified terminable interest property treated as separate property shall be taken into account in determining the deduction. If an election as provided in this division is made, the election is irrevocable.
(3) As used in divisions (B)(1) and (2) of this section, "qualified terminable interest property" means property that satisfies all of the following:
(a) It is included in the value of the gross estate;
(b) It passes from the decedent to the surviving spouse of the decedent;
(c) It is property in which the surviving spouse of the decedent has a qualifying interest for life. For purposes of this division, the surviving spouse has a qualifying interest for life if both of the following apply:
(i) The surviving spouse is entitled to all income from the property, which income is payable annually or at more frequent intervals.
(ii) No person has a power to appoint any part of the property to any person other than the surviving spouse. This division shall not apply to a power that is exercisable only at or after the death of the surviving spouse.
(C) The pay and allowances determined by the United States to be due to a member of the armed forces for active duty in Vietnam service for the period between the date declared by the United States as the beginning of his missing in action status to the date of his death as determined by the United States. As used in this division, "Vietnam service" means military service within the Republic of Vietnam during the period between February 28, 1961, to July 1, 1973, or military service in southeast Asia for which hostile fire pay was awarded pursuant to 37 U.S.C. 310, during the period February 28, 1961, to July 1, 1973.
Structure Ohio Revised Code
Section 5731.01 | Estate Tax Definitions.
Section 5731.011 | Value of Qualified Farm Property.
Section 5731.02 | Rate of Tax - Credit.
Section 5731.03 | Value of Gross Estate.
Section 5731.04 | Value of Gross Estate Includes Interest of Surviving Spouse.
Section 5731.05 | Value of Gross Estate Includes Transfers in Contemplation of Death.
Section 5731.09 | Value of Gross Estate Includes Annuity.
Section 5731.10 | Value of Gross Estate Includes Joint and Survivorship Property.
Section 5731.11 | Value of Gross Estate Includes Interests Subject to General Power of Appointment.
Section 5731.12 | Value of Gross Estate Includes Insurance Payable to Estate.
Section 5731.13 | Value of Gross Estate Includes Transfers for Less Than Adequate Consideration.
Section 5731.14 | Determining Taxable Estate.
Section 5731.15 | General Deductions.
Section 5731.16 | Deductions - Funeral and Administration Expenses, and Debts.
Section 5731.161 | Deductions - Estate of Transferee Spouse.
Section 5731.17 | Deductions - Charitable Bequests and Transfers.
Section 5731.18 | Additional Estate Tax Transfer of Estate.
Section 5731.181 | Additional Tax on Generation-Skipping Transfer.
Section 5731.19 | Estate Tax on Nonresidents.
Section 5731.21 | Filing Estate Tax Return.
Section 5731.22 | Failing to File Timely Return or Underpayment Due to Fraud.
Section 5731.23 | Tax Due and Payable 9 Months After Date of Death - Interest.
Section 5731.24 | Due Date for Additional Tax Return and Payment.
Section 5731.26 | Tax Commissioner - Powers and Duties.
Section 5731.27 | Certificate of Determination of Final Estate Tax Liability.
Section 5731.28 | Claims for Refund.
Section 5731.31 | Probate Court Jurisdiction.
Section 5731.32 | Appeal From Final Order of Probate Court.
Section 5731.33 | Receipt for Payment.
Section 5731.34 | Transfers of Intangible Personal Property.
Section 5731.35 | Foreign Estate Tax.
Section 5731.36 | Enforcing Claims for Foreign Estate Taxes.
Section 5731.37 | Taxes Are Lien on Property.
Section 5731.38 | Statute of Limitations.
Section 5731.39 | Written Consent of Tax Commissioner to Transfer of Assets.
Section 5731.40 | No Consent of Tax Commissioner to Transfer of Assets of Nonresident Decedents.
Section 5731.41 | Appointment of Enforcement Agents.
Section 5731.42 | Collecting Unpaid Tax.
Section 5731.43 | Representing State, Tax Commissioner and County Auditor.
Section 5731.44 | Deputies of Auditor.
Section 5731.45 | Duties of County Treasurer.
Section 5731.46 | Fees of Sheriff and Other Officers.
Section 5731.47 | Payment of Fees of Officers and Expenses of County Auditor.
Section 5731.48 | Distributing Tax Revenue.
Section 5731.49 | Determining Tax Revenues Due Political Subdivisions.
Section 5731.51 | Determining Origin of Tax on Transfer of Personalty Not Located in State.