§2405. Valuation of annuity or usufruct and property subject thereto

NOTE: Repealed by Acts 2008, No. 822, §1, eff. Jan. 1, 2010.

In fixing the value of any legacy or donation mortis causa which consists in whole or in part of an annuity or usufruct or right of use or habitation, the court shall consider the expectancy of life of the legatee or donee according to the table known as the American Experience Table of Mortality, at six per centum per annum compound interest. The following table shall be used as the basis of fixing such values:

PRESENT VALUE

PRESENT VALUE

LIFE

OF NAKED

OF LIFE

EXPECTANCY

OWNERSHIP

USUFRUCT

AGES

IN YEARS

OF $1.00

OF $1.00

20

42.20

$ .085548

$ .914452

21

41.53

.089967

.910033

22

40.85

.092544

.907456

23

40.10

.096672

.903328

24

39.49

.100197

.899803

25

38.81

.104231

.895769

26

38.12

.108497

.891503

27

37.43

.112975

.887025

28

36.73

.117669

.882331

29

36.03

.122533

.877467

30

35.33

.127675

.872325

31

34.63

.132994

.867006

32

33.93

.138491

.861509

33

33.21

.144448

.855552

34

32.50

.150571

.849429

35

31.78

.157003

.842997

36

31.07

.163604

.836396

37

30.35

.170661

.829339

38

29.62

.178080

.821920

39

28.90

.185664

.814336

40

28.18

.193637

.806363

41

27.45

.202086

.797914

42

26.22

.217073

.782927

43

26.00

.219810

.780190

44

25.27

.229438

.770562

45

24.54

.239430

.760570

46

23.81

.249794

.750206

47

23.08

.260612

.739388

48

22.36

.271850

.728150

49

21.63

.283666

.716334

50

20.91

.295743

.704257

51

20.20

.308275

.691725

52

19.49

.321346

.678654

53

18.79

.334678

.665322

54

18.09

.348559

.651441

55

17.40

.362956

.637044

56

16.73

.377380

.622620

57

16.05

.392532

.607468

58

15.39

.408054

.591946

59

14.74

.423774

.576226

60

14.10

.439797

.560203

61

13.47

.456366

.543634

62

12.86

.472777

.527223

63

12.26

.489655

.510345

64

11.67

.506809

.493191

65

11.10

.523806

.476194

66

10.54

.541327

.458673

67

10.00

.558395

.441605

68

9.47

.576152

.423848

69

8.97

.592963

.407037

70

8.48

.610365

.389635

71

8.00

.627412

.372588

72

7.55

.644352

.355648

73

7.11

.660916

.339084

74

6.68

.677826

.322174

75

6.27

.694187

.305813

76

5.88

.710037

.289963

77

5.49

.726532

.273468

78

5.11

.742605

.257395

79

4.74

.758915

.241085

80

4.39

.774608

.225392

81

4.05

.789852

.210148

82

3.71

.805876

.194124

83

3.39

.821084

.178916

84

3.08

.835817

.164183

85

2.77

.851206

.148794

86

2.47

.866319

.133681

87

2.18

.880928

.119072

88

1.91

.894442

.105558

89

1.66

.908152

.091848

90

1.42

.920968

.079032

91

1.19

.933250

.066750

92

.98

.944528

.055472

93

.80

.954717

.045283

94

.64

.963773

.036227

95

.50

.971698

.028302

The value of said usufruct or right of use or habitation, determined as herein provided, shall be deducted from the value of the property on which it rests, in arriving at the value of the said property for the purpose of fixing the inheritance tax due by the person or persons inheriting the same.

Amended by Acts 1976, No. 440, §1, eff. Jan. 1, 1977; Acts 2008, No. 822, §1, eff. Jan. 1, 2010.