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Tennessee inheritance tax law changes

Effective May 21, 2012, the Tennessee inheritance tax maximum allowable exemption is increased over the next three years, and the tax is eliminated for decedents whose deaths occur in 2016 or after. The maximum allowable exemption is increased as follows: for 2013, $1.25 million; for 2014, $2 million; and for 2015, $5 million. The maximum exemption is $1 million through 2012. (H.B. 3760, Laws 2012, effective as noted above)

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