Kentucky HB46 amends inheritance tax exemptions for beneficiaries.
Kentucky HB46 modifies inheritance tax exemptions for various beneficiaries. It adjusts the exemptions for decedents dying between July 1, 1995, and June 30, 1998, and sets the exemption at the total inheritable interest for those dying after June 30, 1998. It also specifies exemptions for Class A and Class B beneficiaries, including changes for those dying on or after January 1, 2027. The bill ensures that the surviving spouse's total inheritable interest is exempt from tax.
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