(a) (1) For the sole purpose of determining the net taxable estate under this part and part 4 of this chapter, there shall be allowed against the net estate a maximum single exemption against that portion of the estate distributable to one (1) or more beneficiaries of Class A of an amount determined according to the following schedule: In the case of a decedent dying:AmountOn or after October 1, 1983, but before January 1, 1984$275,000In 1984325,000In 1985400,000In 1986500,000After 1986600,000 and there shall be allowed against the net estate a maximum single exemption against that portion of the estate distributable to one (1) or more beneficiaries of Class B of an amount determined according to the following schedule: In the case of a decedent dying:AmountOn or after July 1, 1984, but before January 1, 1985$25,000In 198550,000In 1986100,000In 1987150,000In 1988250,000In 1989350,000After 1989600,000 (2) After 1989, no distinction shall be made in classes of beneficiaries and all beneficiaries listed in subsection (b) in Class B shall be included in Class A.
(1) For the sole purpose of determining the net taxable estate under this part and part 4 of this chapter, there shall be allowed against the net estate a maximum single exemption against that portion of the estate distributable to one (1) or more beneficiaries of Class A of an amount determined according to the following schedule: In the case of a decedent dying:AmountOn or after October 1, 1983, but before January 1, 1984$275,000In 1984325,000In 1985400,000In 1986500,000After 1986600,000 and there shall be allowed against the net estate a maximum single exemption against that portion of the estate distributable to one (1) or more beneficiaries of Class B of an amount determined according to the following schedule: In the case of a decedent dying:AmountOn or after July 1, 1984, but before January 1, 1985$25,000In 198550,000In 1986100,000In 1987150,000In 1988250,000In 1989350,000After 1989600,000
In the case of a decedent dying:Amount
On or after October 1, 1983, but before January 1, 1984$275,000
In 1984325,000
In 1985400,000
In 1986500,000
After 1986600,000
In the case of a decedent dying:Amount
On or after July 1, 1984, but before January 1, 1985$25,000
In 198550,000
In 1986100,000
In 1987150,000
In 1988250,000
In 1989350,000
After 1989600,000
(2) After 1989, no distinction shall be made in classes of beneficiaries and all beneficiaries listed in subsection (b) in Class B shall be included in Class A.
(b) For the sole purpose of determining the net taxable estate under this part and part 4 of this chapter, there shall be allowed against the net estate a maximum single exemption against that portion of the estate distributable to one (1) or more beneficiaries of an amount to be determined by the following schedule: In the case of a decedent dying:AmountOn or after July 1, 1998, but before January 1, 1999$625,000In 1999650,000In 2000 and 2001675,000In 2002 and 2003700,000In 2004850,000In 2005950,000In 2006 through 20121,000,000In 20131,250,000In 20142,000,000In 20155,000,000
In the case of a decedent dying:Amount
On or after July 1, 1998, but before January 1, 1999$625,000
In 1999650,000
In 2000 and 2001675,000
In 2002 and 2003700,000
In 2004850,000
In 2005950,000
In 2006 through 20121,000,000
In 20131,250,000
In 20142,000,000
In 20155,000,000
(c) In the case of estates of nonresidents, the exemptions in this section shall be apportioned in the ratio that the value of the property included in the gross estate; to wit, property, the transfer of which is subject to the tax imposed bears to the value of all of the property that would have been included in the gross estate, if the decedent had been a resident of this state; provided, that, in any event, such proportionate part of the exemption shall not be less than is permitted by the Constitution of the United States.