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140.010 Levy of inheritance tax -- Property affected -- When tax attaches.

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140.010 Levy of inheritance tax -- Property affected -- When tax attaches. All real and personal property within the jurisdiction of this state and any interest therein <br>belonging to inhabitants of this state, all tangible personal property wherever situated <br>belonging to inhabitants of this state that has not acquired a situs for purposes of taxation <br>outside of this state, all intangible property belonging to persons domiciled in this state <br>except partnership property located in another state which is subject to an inheritance or <br>estate tax in that state, all intangible property belonging to nonresidents that has acquired <br>a business situs in this state, all real property or interest therein within this state and all <br>tangible personal property that has acquired a situs in this state and is not taxable <br>elsewhere belonging to persons who are not inhabitants of this state, which shall pass by <br>will or by the laws regulating intestate succession, or by deed, grant, bargain, sale or gift <br>made in contemplation of death or made or intended to take effect in possession or <br>enjoyment at or after the death of the grantor or donor, absolutely or in trust, to any <br>person or to any body politic or corporate, in trust or otherwise, or by reason whereof any <br>person or body politic or corporate shall become beneficially entitled in possession or <br>expectancy to any property or to the income thereof, is subject to a tax upon the fair cash <br>value as of the date of the death of the grantor or donor of the property in excess of the <br>exemptions granted and at the rates prescribed in this chapter. This tax shall be imposed <br>when any such person or corporation becomes beneficially entitled in possession or <br>expectancy to any property or the income thereof by any such transfer. History: Amended 1970 Ky. Acts ch. 21, sec. 1. -- Recodified 1942 Ky. Acts ch. 208, sec. 1, effective October 1, 1942, from Ky. Stat. sec. 4281a-12.