Form 94-101 Estate Tax Return

$ 0 $ 60 000 1% $ 0 60 000 100 000 600 plus 1 6% 60 000 1 000 000 1 500 000 38 840 plus 6 4% 1 000 000 1 500 000 2 000 000 70 840 plus 7 2% 1 500 000 1 Gross Estate per the Federal Form 706 1 10 000 000 and ov er 1 082 840 plus 16 0% 10 000 000 100 000 200 000 1 240 plus 2 4% 100 000 11 Tax Due (Greater of Line 10 or Li12 14 Tax Due with this Return 16 10 % Penalty if applicable (Multiply Line 14 by 10%) 16 17 TOTAL DUE 17 2 000 000 2 500 000 106 840 plus 8 0% 2 000 000 2 500 000 3 000 000 146 840 plus 8 8% 2 500 000 200 000 400 000 3 640 plus 3 2% 200 000 3 000 000 3 500 000 190 840 plus 9 6% 3 000 000 3 500 000 4 000 000 238 840 plus 10 4% 3 500 000 3 Percentage of Estate in Mississippi (Line 2 divided by Li3 4 000 000 5 000 000 290 840 plus 11 2% 4 000 000 4 Adjustments to Gross Estate shown on Federal Form 706 Gifts made within 3 years of date of death (Year Value) 400 000 600 000 10 040 plus 4 0% 400 000 5 000 000 6 000 000 402 840 plus 12 0% 5 000 000 6 000 000 7 000 000 522 840 plus 12 8% 6 000 000 6 Deductions from Gross Estate 6 600 000 800 000 18 040 plus 4 8% 600 000 7 000 000 8 000 000 650 840 plus 13 6% 7 000 000 7 Exemption (see Instructions on page 2) 7 8 000 000 9 000 000 786 840 plus 14 4% 8 000 000 8 Adjustments 800 000 1 000 000 27 640 plus 5 6% 800 000 9 000 000 10 000 000 930 840 plus 15 2% 9 000 000 9 Taxable Estate A copy of the Federal Form 706 pages 1 through 3 including all accompanying schedules a copy of the death certificate certified copyof the will a copy of all gift tax returns filed a copy of trust agreements in existence at date of death forms 712 Life Insurance Statements and copies of appraisals of Mississippi property must be attached accompanying schedules) has been examined by me and to the best of my Accountant of Record Address Phone Address Address Change Amended Attorney of Record Phone calculation will be the Percentage of Estate in Mississippi on Line 3 of the Mississippi Estate T ax Return multiplied by the amount of deductions onLine 2 of the Federal Form 706 Co Executor's Last Name First Name Address Phone Copies or reproductions of the official form are not acceptable Date of Death Date Telephone of Preparer Decedent's Last Name Decedent's First Name Middle and Maiden Domicile City County and State Decedent's Social Security Number Due Date the decedent when the gross value of the estate exceeds the specific exemption unless an approved extension has been granted Attach a copy of the approved IRS and MS extensions Estate Estate Tax Return Estate Tax Return Instructions Estate Tax Table executor or administrator must complete the following for the entire estate Attach a copy of the Federal Form 706 with all accompanying schedules copies of any gift tax returns filed a copy of the death certificate and a certified copy of the will if the decedent died testate If decedent died testate enter an X in the box labeled TESTATE Executor's Last Name First Name Address Phone Extensions may be granted for a period of six (6) months for filing the return and paying the tax prov ided the person responsible for filingmakes an application to the Commission by the due date and can show undue hardship in completing the return However a lien will be in effect on the estate from the original due date until the return is filed and the tax is paid Once the tax liability has been paid and uponcompletion of our rev iew a closing letter will be issued that will release all property from the imposed estate tax lien Failure to submit your return on the original form may result in a penalty Form 94 101 99 1(Rev 9/99) I declare under the penalties of perjury that this return (including any If the executor or administrator is unable to make a complete return he shall include with the return a description of any property notincluded and the name of ev ery person holding a legal or beneficial interest in such property The address of ev ery person holding such interest and the v alue of such property should be included if known If an executor or administrator was not appointed for the estate then any person who has possession of any property of the estate must file a return in Mississippi on Line 3 of the Mississippi Estate T ax Return Installment Instructions Interest (1/2 of 1% per month from due date until paid) Interest is charged against the amount of tax shown on the return Jackson MS 39215 Less Tax Previously Paid Line 1 Enter the total gross estate wherever located T his includes all real personal and intangible properties of the estate of residents and Line 10 Enter the Tax Due from the Mississippi T ables T his table is prov ided in the middle of this page Line 11 Enter the amount computed for the State Death T ax Credit allowable as a deduction on the Federal Estate T ax Return multiplied by the Line 12 Enter the greater amount of the T ax Due from the Mississippi Tax T ables (Line 10) or the State Death Tax Credit (Line 11) Line 13 Enter the amount of estate tax which has prev iously been paid Do not include penalty and interest prev iously paid Line 14 Enter the Tax Due with this Return T his will be Line 12 less Line 13 Line 15 Enter the interest due if the return is submitted beyond the original due date of the return Interest is calculated at one half of one percent per Line 2 Enter the amount of the estate located within the State of Mississippi Line 3 Div ide Line 2 by Line 1 Enter the result for Line 3 Line 4 Residents Enter the amount of gifts made within three years prior to date of death Line 5 Enter the total of Line 2 and Line 4 Line 6 Enter the amount of the av ailable deductions For residents this should equal the amount on Line 2 of the Federal Form 706 For nonresidents Line 7 Enter the amount of the av ailable exemption determined by the date of the death If the decedent died on or after October 1 1990 the amount is $600 000 00 Residents The amount of the av ailable exemption will be the full amount Nonresidents T he amount of the av ailable exemption will be the exemption determined by the date of death multiplied by the Percentage of Line 8 Enter the amount of any adjustments to the deductions indicated on Line 2 of the Federal Form 706 Line 9 Enter the amount of the T axable Estate T his calculation is Line 5 less Lines 6 7 and 8 Mail return to Post Office Box 1033 knowledge and belief is a true correct and complete return Make changes below Make check payable to State Tax Commission Mississippi Mississippi Estate Mississippi Estate Tax Return must be filed by the Executor or Administrator of the estate of any resident or for any nonresidentdecedent where any real or tangible personal property of his gross estate is situated in Mississippi where the gross v alue of the estateon the date of death wherev er located exceeds the available exemption T he exemption amounts are: 1998 $625 000; 1999 $650 000; 2000 and 2001 $675 000; 2002 and 2003 $700 000; 2004 $850 000; 2005 $950 000; 2006 $1 000 000 month ne 1) ne 11) non residents Nonresidents (Multiply Available Exemption from page 2 by Line 3 above) Nonresidents (Multiply Line 2 of the Federal Form 706 by Line 3 above) Nonresidents Enter the amount of gifts of Mississippi real property or Mississippi tangible personal property made within three years of date Nonresidents Only real property and tangible personal property located inside Mississippi of death OVER BUT NOT OVER TAX OF EXCESS OF percentage on Line 3 of the Mississippi Estate T ax Return Residents (Exemption from page 2) Residents (Line 2 of Federal Form 706) Residents All property everywhere less and except real property and tangible personal property located outside Mississippi Section 6166 Signature of Executor or Co Executors Signature of Preparer State Death Tax Credit allowable (Line 15 of 706 * Line 3 above) T his should be separated by the year and the v alue of the gifts for that particular year Enter the total on Line 4 Enter zero if there were no gifts T his should equal the amount on Line 1 of the Federal Form 706 T his table is to be used for the calculation of the Tax from the Mississippi Tax Tables required on Line 10 of page 1 If the decedent died prior to October 1990 please contact the Miscellaneous Tax Division for the appropriate tax table Tax Due from the Mississippi Tax Tables Testate This return must be filed within 9 months from the date of death of This return must be typed Round to the nearest whole dollar The Total Gifts 4 Total Mississippi Gross Estate within three years prior to the date of death