COMPILED CODE - Iowa Legislature - State of Iowa

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S§ 4704-a7-4704-al0. INHERITANCE TAX. Tit. XIV, Ch. 21.
46 Six per centum on any amount in excess of one hundred thousand
47 dollars up to two hundred thousand dollars.
48 Seven per centum on all amounts in excess of two hundred thou-
49 sand dollars.
[C, '97, § 1467; S., '13, § 1481-a; 39 G. A., ch. 38, § 4;
39 G. A., ch. 164, § 1.]
SEC. 4704-a7. Death prior or subsequent to law—effect.
1 As to estates of decedents passing to beneficiaries named in para-
2 graph one of the preceding section, this chapter shall apply only where
3 decedent dies after the taking effect of this chapter, and as to estate of
4 decedents passing to beneficiaries named in paragraph two of the pre-
5 ceding section, the rate of tax shall be five per cent as to all persons
6 dying before this chapter takes effect.
[39 G. A., ch. 38, § 16.]
NOTE: 39 G. A., ch. 38, § 17, repealed by 39 G. A., ch. 164, § 4.
SEC. 4704-a8. Alien beneficiaries.
1 When property or any interest therein shall pass to heirs, devisees
2 or other beneficiaries subject to the tax imposed by this chapter, who
3 are aliens, nonresidents of the United "States, the same shall be subject
4 to a tax of twenty per centum of its true value except when such foreign
5 beneficiaries are brothers or sisters of the decedent owner or are within
6 the class described in paragraph one of section forty-seven hundred
7 four-a six of this supplement, when the rate of tax to be assessed and
8 collected therefrom shall be ten per centum of the value of the property
9 or interest so passing.
[C, '97, § 1467; S., '13, § 1481-a; 39 G. A., ch. 38, § 4.]
SEC. 4704-a9. Bates applied on aggregate value of property.
1 In determining the inheritance tax due from the estate of any
2 decedent under this chapter, the rates provided in section forty-seven
3 hundred four-a six of this supplement shall be applied upon the aggre-
4 gate value of the property making up said estate after deducting the
5 exemptions herein provided. Where part of said property passes to
6 the class described in paragraph one of section forty-seven hundred
7 four-a six of this supplement, and part to the class described in para-
8 graph two, the tax applying to each of said classes shall be computed as
9 if the same were a separate estate.
[39G.A.,ch.38,§4.]
SEC. 4704-alO. Deductions of debts.
1 There shall be deducted from the gross value of the estate as
2 fixed by the inheritance tax appraisers appointed under the provisions
3 of this chapter, or as fixed by the court, the debts defined as follows :
4 1. From the estate of such decedent who at the time of his death
5 was domiciled within this state, there shall be deducted the debts
6 owing by the decedent at the time of his death, the local and state taxes
7 due from the estate in January of the year of his death, and federal
8 taxes, a reasonable sum for funeral expenses, temporary allowance for
9 the widow and children under fifteen years of age as granted by the
10 probate court or judge thereof, court costs, the costs of appraisement