On May 21, 2012, Governor Bill Haslam signed legislation passed by the Tennessee General Assembly that repeals the Tennessee gift tax and phases out the Tennessee inheritance tax.
The repeal of the Tennessee gift tax is retroactive to January 1,2012. The Tennessee inheritance tax is phased out by increasing the exemptions over the next three years until fully repealed in 2016. The Tennessee inheritance tax exemptions will be as follows.
Firefox recommends the PDF Plugin for Mac OS X for viewing PDF documents in your browser.
We can also show you Legal Updates using the Google Viewer; however, you will need to be logged into Google Docs to view them.
Please choose one of the above to proceed!
LOADING PDF: If there are any problems, click here to download the file.