Return
Important Notices
Tax Rulings
Gift Tax Outline (PDF)
Frequently Asked Questions |
Gift tax is imposed on the donor for gifts in excess of the allowable exemptions.
Exemptions Per Donee:
| Date of Gift |
Class A |
Class B |
| 2001 and earlier |
$10,000 |
$3,000 |
| 2002 through 2005 |
$11,000 |
$3,000 |
| 2006 and after |
$12,000 |
$3,000 |
Class A includes husband, wife, son, daughter, lineal ancestor, lineal descendant, brother, sister, son-in-law, daughter-in-law, or stepchild. If a person has no child or grandchild, a niece or nephew of such person shall be a Class A donee (Tenn. Code Ann. Section 67-8-102(1)).
Class B is all others.
DUE DATE
Annual – April 15
Extension - Up to six months may be granted upon written request
TAX RATE
Graduated rates from 5.5% to 16%
CONTACT PHONE NUMBER
(615) 532-6438 |
