Texas Estates Code

§ 124.008 — EXCLUSION OF CERTAIN TEMPORARY INTERESTS FROM APPORTIONMENT

ES § 124.008Title 2. ESTATES OF DECEDENTS; DURABLE POWERS OF ATTORNEY · Part C. PASSAGE OF TITLE AND DISTRIBUTION OF DECEDENTS' PROPERTY IN GENERAL · Ch. 124. VALUATION AND TAXATION OF ESTATE PROPERTY · Art. A. APPORTIONMENT OF TAXES

Statute text

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(a)Except as provided by Section 124.009(c), the following temporary interests are not subject to apportionment:

(1)an interest in income;

(2)an estate for years or for life; or

(3)another temporary interest in any property or fund.

(b)The estate tax apportionable to a temporary interest described by Subsection (a) and the remainder, if any, is chargeable against the corpus of the property or the funds that are subject to the temporary interest and remainder.

Legislative history

Added by Acts 2009, 81st Leg., R.S., Ch. 680, Sec. 1, eff. January 1, 2014.