CHAPTER 4

INHERITANCE TAX

AN ACT TO AMEND CHAPTER 6 OF THE REVISED CODE OF THE STATE OF DELAWARE, 1935, AS AMENDED, RELATING TO INHERITANCE TAX.

Be it enacted by the Senate and House of Representatives of the State of Delaware in General Assembly met:

Section 1. That Article 10 of Chapter 6 of the Revised Code of Delaware (1935), as amended, be and the same is hereby further amended by adding a new section to be known and styled 142. A. Section 108. A. immediately after 142. Section 108 of said Article 10, as follows :

142. A. Section 108. A. No limitation of time upon the making of any assessment of inheritance tax shall be considered to limit the State Tax Department in making any assessment if the information necessary to complete and determine the true and proper tax has not been furnished the said Tax Department within the time prescribed by law or if any report, inventory, list and statement, or schedule of deductions has not been filed within the time prescribed under this Chapter. If the State Tax Department discovers from information submitted to it or obtained in any other manner subsequent to the assessment of inheritance tax in accordance with 138 Section 104, Revised Code of Delaware, 1935, as amended, that any property of any estate or any portion thereof or any taxable interest therein has not been included or has been included in an amount substantially less than the market value of said property in any inheritance tax report filed with said Tax Department it may at any time within two years after the date of any previous assessment of tax make an assessment of tax and/or an assessment of additional tax and give notice of such assessment in the same manner as is provided by law for orginal assessments.

The Tax Board upon written request may by agreement in meeting or by written assent extend the time for filing of any report which may include inventory, list and statement or schedule of deductions and for the payment of any tax, but such extension shall have the effect of extending the time within which any assessment and any payment of tax may be made for a period of time equal to the time so extended and all such extensions shall be recorded in the minutes of the State Tax Board ; provided, however, that extension for payment of tax shall be conditioned upon the payment of interest upon the tax at the rate of four per centum per annum as otherwise provided by law. The request and allowance of any extension of time under the provisions of this Section shall in no way relieve any executor, administrator, beneficiary or other person in interest from the payment of the tax.

It shall be the duty of every executor or administrator within twelve months after the death of the donor, grantor, devisor or intestate to file with the State Tax Department a schedule of the deductions provided by law.

Section 2. All acts or parts of acts inconsistent with this act are hereby repealed to the extent of such inconsistency only.

Approved April 15, 1943.