{"data":{"id":"us-ky/krs-140.275","jurisdiction":"us-ky","citation":"KRS 140.275","heading":"Exclusion of intangible personal property held in trust, under reciprocal","body":"agreements with other states.\n(1) It is hereby declared to be the legislative policy that Kentucky shall not be a party to\ninterstate double taxation under the terms of the Kentucky inheritance and estate tax\nlaws. Pursuant to this policy, the commissioner of the Department of Revenue is\nhereby authorized to omit from the property subject to tax under those laws, any\nintangible personal property of a nonresident decedent (having a domicile in the\nUnited States) held in trust by a Kentucky trustee if the jurisdiction (state, territory\nor District of Columbia) in which the decedent was domiciled grants similar\nimmunity to residents of Kentucky, but only in the event the personal representative\nshall present evidence that the tax has been or will be paid to the other jurisdiction.\nIf another state, territory, or the District of Columbia of the United States\nconstitutionally imposes a tax on the transfer of estates or of the distributi ve shares\nthereof, but grants immunity from the tax in respect of any intangible property of its\nresident decedents held in trust by a Kentucky trustee, then the commissioner of the\nDepartment of Revenue is hereby authorized to exclude from the property subject to\ntax under the Kentucky inheritance and estate tax laws, the intangible personal\nproperty of a Kentucky resident held in trust in that jurisdiction but only in the event\nthe personal representative shall present evidence that the tax has been or wi ll be\npaid to the other jurisdiction.\n(2) It is expressly provided, however, in view of the uncertainty now prevailing with\nrespect to the correct interpretation of the Constitution of the United States\nregarding the jurisdiction of the several states, tha t the provisions of this section\nshall be inoperative under the second alternative until and unless an agreement,\napproved as to legality by the Attorney General, between the commissioner of the\nDepartment of Revenue as agent for Kentucky and the appropria te administrative\nofficial of such other state, shall have been executed and an original copy thereof\nfiled with the Kentucky Department of Revenue.\n(3) This section is intended to apply retroactively to all estates of decedents on or after\nApril 25, 1936, which are subject to Kentucky inheritance tax laws.","path":["KRS Chapter 140"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=29011","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:33Z","sha256":"8304a49c32591e281c077a447efe0b493279a7db85dabddb2e946bb30fa229e6","source_id":"us-ky","stale":false,"prev":"us-ky/krs-140.270","next":"us-ky/krs-140.280"},"notice":"GroundRules: Original legal text. Not legal advice."}