Authors

H. Brice Graves

Some Differences Between Federal and Virginia Taxation in the Estate and Gift Tax Fields

Abstract

This article describes the differences between federal and Virginia taxes on estates and inheritances. Many of the differences stem from their nature – federal estate taxes are on transmitting property, Virginia inheritance taxes are on receiving property. Additional differences are related to provisions regarding date of death, marital status, life insurance, and power of appointment. Gift taxes also differ between federal and state, largely in terms of exclusions and deductions. The author concludes that, although Virginia’s policies seem to grounded in inheritances taxes, there are places where Virginia’s rules could be made to conform with federal estate ones.

Repository Citation

H. Brice Graves, Some Differences Between Federal and Virginia Taxation in the Estate and Gift Tax Fields, 1 Wm. & Mary L. Rev. 69 (1957), https://scholarship.law.wm.edu/wmlr/vol1/iss1/6