CHAPTER 9 - INHERITANCE TAX

AN ACT TO AMEND CHAPTER 6 OF THE REVISED CODE OF THE STATE OF DELAWARE OF 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 Section 101 of said Chapter 6 of the Revised Code of the State of Delaware 1935, being Code Section 135 of said Code be and the same is hereby amended by striking out and repealing the third paragraph of said Section 101, and substituting in lieu thereof the following:

Whenever property, real or personal, is held in the joint names of two or more persons, or is deposited in banks or other institutions or depositories in the joint names of two or more persons and payable to either or the survivor, upon the death of one of such persons, the right of the surviving joint tenant or joint tenants, tenant by the entirety, or other such person or persons to the immediate ownership or possession and enjoyment of such property shall be deemed a transfer taxable under the provisions of this Act in the same manner as though the whole property to which such transfer relates belonged absolutely to the deceased joint tenant, joint depositor or tenant by the entirety and had been devised or bequeathed to the surviving joint tenant or joint tenants, tenant by the entirety, person or persons, by such deceased joint tenant, tenant by the entirety, or joint depositor by will, excepting therefrom such part thereof as may be proved by the personal representative of the decedent or by the surviving joint tenant or tenants or tenant by the entirety, or other such person or persons not to have been received or acquired from the decedent for less than adequate and full consideration in money or money's worth.

Section 2. That Section 102 of said Chapter 6 of the Revised Code of the State of Delaware 1935, being Code Section 136 of said Code, as amended, be and the same is hereby further amended by striking out and repealing the first paragraph of Section 3 of Chapter 8, Volume 41, Laws of Delaware 1937, and substituting in lieu thereof the following:

Where the property or any interest or estate therein passes to or for the use of (1) a brother, or sister, either of the whole or half-blood of the decedent, or a lineal descendant of any such brother or sister of the whole or half-blood of the decedent or (2) a brother or sister of decedent's parent or the child or children of any brother or sister of the decedent's parent, the tax shall be at the following rates:

Section 3. That Section 104 of said Chapter 6 of the Revised Code of the State of Delaware 1935, being Code Section 138 of said Code, as amended, be and the same is hereby further amended by striking out and repealing Section 7 of Chapter 8, Volume 41, Laws of the State of Delaware 1937, and substituting in lieu thereof the following:

Where any property, real, personal or mixed, which can be identified as having been received by the decedent or to which he or she is entitled as a share in the estate of any person who died within two years prior to the death of the decedent, or which can be identified as having been acquired by the decedent in exchange for property so received if an inheritance tax under this Article was collected from such estate, and if such property is included in decedent's gross estate, a deduction of an amount equal to the value of such property at the time of decedent's death shall be made.

Section 4. That Section 104 of said Chapter 6 of the Revised Code of the State of Delaware 1935, being Code Section 138 of said Code, as amended, be and the same is hereby further amended by striking out the word "thirteen" in line two of paragraph 6 and adding in lieu thereof the word "fourteen".

Section 5. That Section 105 of said Chapter 6 of the Revised Code of the State of Delaware 1935, being Code Section 139 of said Code, as amended, be and the same is hereby further amended by striking out the word "fourteen" of the first sentence of Section 105, as amended by Section 8 of Chapter 8, Volume 41, Laws of the State of Delaware 1937, and substituting in lieu thereof the word "fifteen".

Section 6. That Section 105 of said Chapter 6 of the Revised Code of the State of Delaware 1935, being Code Section 139 of said Code, as amended, be and the same is hereby further amended by striking out and repealing Section 9 of Chapter 8, Volume 41, Laws of the State of Delaware 1937.

Section 7. That Section 108A of said Chapter 6 of the Revised Code of the State of Delaware 1935, being Code Section 142A of said Code, as amended, be and the same is hereby further amended by striking out the word "twelve" on the second line of paragraph 3 of Section 1 of Chapter 4, Volume 44, Laws of the State of Delaware 1943, and substituting in lieu thereof the word "thirteen".

Section 8. That all acts or parts of acts inconsistent with this act are hereby repealed only to the extent of such inconsistency.

Approved April 16, 1945.