COMPILED CODE - Iowa Legislature - State of Iowa

315
Tit. XIV, Ch. 21. INHERITANCE TAX. § 4704-a6.
4 consideration in money or money's worth), and if the tax in respect
5 thereto is not paid when due, the transferee or trustee shall be person-
6 ally liable for such tax, and such property, to the extent of the dece-
7 dent's interest therein at the time of his death, shall be subject to a
8 lien for the payment of such tax.
[€., '97, § 1467 ; S., '13, § 1481-a ; 39 G. A., ch. 38, § 2.]
SEC. 4704-a6. Rate of tax.
1 The property, or any interest therein or income therefrom subject.
2 to the provisions of this chapter shall be taxed as herein provided.
3 1. When such property, interest or income passes to the wife or
4 the husband of the deceased, in excess of the distributive share of such
5 surviving spouse, grantor, donor or vendor, or to the father or mother
6 or to any child or lineal descendant of such decedent, grantor, donor
7 or vendor, including a legally adopted child or illegitimate^ child en-
8 titled to inherit under the laws of this state the tax impose'd shall be
9 on the individual share so passing, and shall be as follows :
10 One per centum on any amount in excess of fifteen thousand dollars
11 and up to thirty thousand dollars.
12 One and one-half per centum on any amount in excess of thirty
13 thousand dollars and up to forty-five thousand dollars.
14 Two per centum on any amount in excess of forty-five thousand
15 dollars and up to sixty thousand dollars.
16 Two and one-half per centum on any amount in excess of sixty
17 thousand dollars and up to ninety thousand dollars.
18 Three per centum on any amount in excess of ninety thousand
19 dollars and up to one hundred twenty thousand dollars.
20 Four per centum on any amount in excess of one hundred twenty
21 thousand dollars and up to one hundred eighty thousand dollars.
22 Five per centum on any amount in excess of one hundred eighty
23 thousand dollars arid up to two hundred forty thousand dollars.
24 Six per centum on any amount in excess of two hundred forty
25 thousand dollars and up to three hundred thousand dollars.
26 Seven per centum on all sums in excess of three hundred thousand
27 dollars.
28 Provided, that, in case any such child does not survive the dece-
29 dent, grantor, donor or vendor, or, for any reason, sufficient property,
30 interest or income of such decedent does not pass to such child to equal
31 the amount of the exemption to which such child would be entitled un-
32 der the provisions of this section, but property, interest or income
33 passes to the spouse or any lineal descendant of such child, the amount
34 so passing to such child, if any, and the amount passing to such spouse
35 or lineal descendant shall be treated collectively as one inheritance and
36 the persons receiving such collective inheritance shall collectively be
37 entitled to the same exemption, prorated according to the amount
38 passing to each of such persons as if such inheritance had passed en-
39 tirely to such child.
40 2. When the property or any interest therein or income therefrom
41 taxable under the provisions of this chapter passes to any person,
42 'firm, corporation or society other than those designated in paragraph
43 one of this section the rate of tax imposed shall be as follows :
44 Five per centum on any amount up to one hundred thousand
45 dollars.