Text: SF02263 Text: SF02265 Text: SF02200 - SF02299 Text: SF Index Bills and Amendments: General Index Bill History: General Index
PAG LIN 1 1 Section 1. Section 450.10, subsection 1, Code Supplement 1 2 2001, is amended to read as follows: 1 3 1. When the property or any interest in property, or 1 4 income from property, taxable under the provisions of this 1 5 chapter, passes to the brother or sister, son-in-law,or1 6 daughter-in-law, niece, or nephew, the rate of tax imposed on 1 7 the individual share so passing shall be as follows: 1 8 Five percent on any amount up to twelve thousand five 1 9 hundred dollars. 1 10 Six percent on any amount in excess of twelve thousand five 1 11 hundred dollars and up to twenty-five thousand dollars. 1 12 Seven percent on any amount in excess of twenty-five 1 13 thousand dollars and up to seventy-five thousand dollars. 1 14 Eight percent on any amount in excess of seventy-five 1 15 thousand dollars and up to one hundred thousand dollars. 1 16 Nine percent on any amount in excess of one hundred 1 17 thousand dollars and up to one hundred fifty thousand dollars. 1 18 Ten percent on all sums in excess of one hundred fifty 1 19 thousand dollars. 1 20 EXPLANATION 1 21 This bill lowers the inheritance tax rate on property or 1 22 any interest in property, or income from property, passing to 1 23 a niece or nephew, to between 5 and 10 percent. The current 1 24 applicable rate for nieces and nephews is between 10 and 15 1 25 percent. 1 26 LSB 6063SS 79 1 27 rh/cls/14
Text: SF02263 Text: SF02265 Text: SF02200 - SF02299 Text: SF Index Bills and Amendments: General Index Bill History: General Index
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