58.1-904 - Tax upon estates of alien decedents. - Virginia Statutes

§ 58.1-904. Tax upon estates of alien decedents.

A. A tax in an amount computed as provided in this section is imposed uponthe transfer of real property and tangible personal property having an actualsitus in the Commonwealth of Virginia and upon intangible personal propertyphysically present within the Commonwealth of every person who at the time ofdeath was not a resident of the United States.

The tax shall be an amount computed by multiplying the federal credit by afraction, the numerator of which is the value of that part of the grossestate over which Virginia has jurisdiction for estate tax purposes and thedenominator of which is the decedent's gross estate taxable by the UnitedStates wherever situated.

B. Resident aliens of the United States shall be subject to the tax imposedby this chapter under § 58.1-903 when the decedent, at the time of death, wasnot a resident of Virginia but was a resident of the United States. Aresident alien who, at the time of death, was a resident of Virginia and aresident of the United States shall be subject to the tax imposed by thischapter under § 58.1-902.

C. For purposes of this section, stock in a corporation organized under thelaws of the Commonwealth shall be deemed physically present within theCommonwealth.

(Code 1950, § 58-238.5; 1978, c. 838; 1984, c. 675.)