Or. Admin. R. 150-118-0030 - Imposition of Tax

Current through Register Vol. 61, No. 4, April 1, 2022

This rule applies to estates of decedents who die before January 1, 2012.A tax equal to the state death tax credit allowable for federal estate tax purposes is imposed. The tax is due in every case even though the credit may not be claimed on the federal estate tax return, Form 706.

(1) Property within the jurisdiction of the state includes the following:
(a) Resident Decedent.
(A) Real property situated in Oregon.
(B) Tangible personal property situated in Oregon.
(C) Intangible personal property wheresoever situated.
(b) Nonresident Decedent.
(A) Real property situated in Oregon.
(B) Tangible personal property situated in Oregon.
(C) Intangible personal property situated in Oregon.

NOTE: See ORS 118.010(4)(b) which provides an exemption as to intangible personal property of nonresident decedents.

(2) The phrase "within the jurisdiction of the state" connotes extent of power and has a broader meaning than the phrase "within the state" which denotes locality. Property may be within the jurisdiction of the state but not physically situated in the state, for example:
(a) Stock of an Oregon corporation is within the jurisdiction of this state although the certificate may not be within this state.
(b) A savings account, checking account, and certificate of deposit in an Oregon bank are within the jurisdiction of this state although the passbook or certificate may not be within this state.
(c) A promissory note given by a resident of Oregon is within the jurisdiction of this state although the note may not be within this state.
(3) The term "intangible personal property" includes stocks, bonds, notes, currency, bank deposits, accounts receivable, patents, trademarks, copyrights, royalties, goodwill, partnership interests, life insurance policies, and other choices in action.
(4) The doctrine of equitable conversion is recognized in the administration of the Oregon inheritance tax law.

Notes

Or. Admin. R. 150-118-0030
9-71; 11-73; 9-74; 12-31-77; RD 4-1997, f. 9-12-97 cert. ef. 12-31-97, REV 6-2012, f. 7-20-12, cert. ef. 8-1-12; REV 8-2013, f. & cert. ef. 12-26-13; Renumbered from 150-118.010(1), REV 9-2016, f. 8-10-16, cert. ef. 9/1/2016

Publications: Publications referenced are available from the agency.

Stat. Auth.: ORS 305.100

Stats. Implemented: ORS 118.010

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