Ky Revenue Cabinet Inheritance Tax

If inheritance tax or estate tax is due the commonwealth of kentucky form 92a200 or 92a205 should be used.

Ky revenue cabinet inheritance tax. 2017 2020 form ky dor 92a205 fill online printable fillable. 2017 2020 form ky dor 92a205 fill kentucky inheritance tax return formsend 2017 2020 form ky dor 92a200 fill ky dor inheritance estate tax forms. An individual retirement arrangement ira may be a vehicle available to kentucky residents to avoid kentucky s inheritance tax. If the inheritance tax is paid within nine months of date of decedent s death a 5 percent discount is allowed.

Masuzi june 12 2018. Kentucky tax extensions for victims of hurricane laura warning from the kentucky department of revenue scammers trying to fool taxpayers with fake threatening letters covid 19 tax relief faqs now available. By nathan vinson attorney english lucas priest owsley llp. Kentucky revenue cabinet inheritance tax forms.

The tax due should be paid when the return is filed. The kentucky inheritance tax is payable by the beneficiaries of a person s estate depending on what the beneficiary received and the relationship of the decedent to the beneficiary. If the date of death occurred prior to january 1 2005 contact the financial tax section department of revenue station 61 501 high street frankfort ky 40601 2103 502 564 4810 fax 502 564 2695. General information concerning the kentucky inheritance and estate tax.

0 6 less than a minute. An inheritance tax will be imposed on any non probate property that passes on the privilege or right of succession for example jointly owned bank accounts that are payable on death may result in an inheritance tax being due based on the account balance and the beneficiary class of the account s co owner s. If inheritance tax or estate tax is due the commonwealth of kentucky form 92a200 or 92a205 should be used. However if the beneficiary s net inheritance tax liability exceeds 5 000 and the return is filed timely an election can be made to pay the tax in 10 equal annual installments.

It is not necessary to file an inheritance tax return with the kentucky department of revenue. Kentucky inheritance tax can be imposed on property left by a kentucky resident or a nonresident who owned real estate or tangible property located in the state.