HB435

Kentucky HB435 amends inheritance tax rates and exemptions for various beneficiaries.

Kentucky HB435 revises the inheritance tax rates and exemptions for different classes of beneficiaries. It establishes specific tax rates for transfers to parents, surviving spouses, children, stepchildren, and adopted children. The bill also sets exemptions for certain beneficiaries, including a surviving spouse, and adjusts the exemption amounts for different classes of beneficiaries based on the date of the decedent's death. The changes apply to estates of decedents who die on or after August 1, 2026.