140.310 Assessment of agricultural or horticultural land for inheritance tax purposes. (1) Agricultural or horticultural land may be assessed at its agricultural or horticultural value in a decedent's estate for Kentucky inheritance tax purposes if the agricultural or horticultural land is qualified real estate and is passing to a qualified person or persons. (2) Agricultural or horticultural land which comprises a portion of the assets of a corporation or partnership, and which is wholly owned by the decedent or by the decedent and qualified persons, the balance of the assets of said corporation or partnership being personal property entirely related to the use of agricultural or horticultural land, may be assessed at its agricultural or horticultural value in a decedent's estate for Kentucky inheritance tax purposes for the agricultural or horticultural rate for qualified real estate, if the stock in said corporation or partnership interest passes to a qualified person or persons. Effective: July 15, 1986 History: Amended 1986 Ky. Acts ch. 8, sec. 1, effective July 15, 1986. -- Amended 1980 Ky. Acts ch. 402, sec. 1, effective July 15, 1980. -- Created 1978 Ky. Acts ch. 138, sec. 6, effective July 1, 1978.
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.
