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Virginia Administrative Code (Last Updated: January 10, 2017) |
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Title 23. Taxation |
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Agency 10. Department of Taxation |
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Chapter 300. Estate Tax |
Section 30. Out-of-state tax credit against resident's tax
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The amount calculated in § 58.1-902 B (2) is described by the formula which follows.
Note: This calculation is to be compared with the calculation under § 58.1-902 B (1), and the lesser amount will be the out-of-state tax credit.
Value of resident's tangible
personal property, real property
and real property interests taxed
in other states
X
Federal credit for
State death taxesValue of gross estate
The credit under § 58.1-902B(1) and (2) will be computed on a state-by-state basis. If a state does not impose a death tax, there will be no credit for property located in that state.
Historical Notes
Derived from VR630-7-902, eff. January 1, 1985, with retroactive effect according to § 58.1-203 of the Code of Virginia.