Exemptions. [Not Applicable to Decedents Who Die in 2016 or After, See § 67-8-318.]

1. Law
2. Tennessee Code
3. Taxes and Licenses
4. Transfer Taxes
5. Inheritance Tax — General Provisions [Not Applicable to Decedents Who Die in 2016 or After, See § 67-8-318.]
6. Exemptions. [Not Applicable to Decedents Who Die in 2016 or After, See § 67-8-318.]

1. 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: Amount

      On or after October 1, 1983, but  before January 1, 1984 $275,000

      In 1984 325,000

      In 1985 400,000

      In 1986 500,000

      After 1986 600,000

      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: Amount

      On or after July 1, 1984, but  before January 1, 1985 $25,000

      In 1985 50,000

      In 1986 100,000

      In 1987 150,000

      In 1988 250,000

      In 1989 350,000

      After 1989 600,000

   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.
2. 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: Amount

   On or after July 1, 1998, but  before January 1, 1999 $625,000

   In 1999 650,000

   In 2000 and 2001 675,000

   In 2002 and 2003 700,000

   In 2004 850,000

   In 2005 950,000

   In 2006 through 2012 1,000,000

   In 2013 1,250,000

   In 2014 2,000,000

   In 2015 5,000,000

3. 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.

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