(1) A tax in an amount determined as provided in this section is imposed on the transfer of the gross estate located in Colorado of every nondomiciliary.
(2) The tax shall be an amount determined by multiplying the federal credit by a fraction, the numerator of which is the value of the property located in Colorado which is included in the gross estate and the denominator of which is the value of the nondomiciliary's gross estate. For Colorado estate tax purposes, no credit for taxes is allowable in determining such federal credit under this subsection (2) other than the unified credit.
(3) Property located in Colorado of a nondomiciliary includes real property situated in this state held in trust or otherwise and tangible personal property which has an actual situs in this state, but intangibles that have acquired an actual or business situs in this state shall not be taxable.
Copyright ©2024 LegalFix. All rights reserved. LegalFix is not a law firm, is not licensed to practice law, and does not provide legal advice, services, or representation. The information on this website is an overview of the legal insurance products you can purchase—or that may be provided by your employer as an employee benefit or by your credit union or other membership group as a membership benefit.
LegalFix provides its members with access to legal services through a network of provider law firms. LegalFix, its corporate entity, and its officers, directors, employees, agents, and contractors do not provide legal advice, services, or representation—directly or indirectly.
The articles and information on the site are not legal advice and should not be relied upon—they are for information purposes only. You should become a LegalFix member to get legal services from one of our provider law firms.
You should not disclose confidential or potentially incriminating information to LegalFix—you should only communicate such information to your provider law firm.
The benefits and legal services described in the LegalFix legal plans are not always available in all states or with all plans. See the legal plan Benefit Overview and the more comprehensive legal plan contract during checkout for coverage details in your state.
Use of this website, the purchase of legal insurance products, and access to the LegalFix network of provider law firms are subject to the LegalFix Terms of Service and Privacy Policy.
