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
