Form 101-Ht-001 - Inheritance Tax Return Page 3
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1
2
3GENERAL INFORMATION – ALL QUESTIONS MUST BE ANSWERED
Page 3
Will the Closing Certificate for Fiduciaries (also called
f yes, it is suggested that the request for this certificate
I
the “income closing certificate”) be needed to close this
along with any required fiduciary returns accompany the
Yes
No
estate with the Circuit Court?
inheritance tax return when it is filed.
If yes, attach a copy of the
if there has been any previous
Did decedent have a
Yes
No
Check box
will and any codicils.
will?
correspondence on this estate
If yes, attach a complete copy of the federal return, proof of payment,
Is a Federal Estate Tax Return
Yes
No
being filed?
and closing letter, if available.
When federal schedules are not required or when assets or deductions differ from the corresponding federal schedules, attach the
appropriate Wisconsin Schedules A through K.
State of residence at death
Year residence estab.
Occupation while employed
Employer
If no, please explain
Was a Wisconsin income tax return or Home-
Yes
No
stead claim filed for the year prior to death?
If yes, indicate its value and attach a schedule for
Did decedent own any real estate or tangible
Yes
No
apportionment of deductions and exemptions.
personal property located outside Wisconsin?
If yes, complete Schedule G and include a copy of
Did decedent during lifetime give away any property
Yes
No
the death certificate.
valued at $10,000 or more to any person in any year?
Did decedent transfer any property during lifetime, in trust or otherwise, and retain a life
If any part is yes,
Yes
No
use or any income or economic benefit from it or any powers or control over the property?
complete Schedule G.
If yes, attach a copy of the document granting the
Did the decedent possess any general power of
Yes
No
power and complete Schedule H.
appointment or other power as defined in s. 72.28(1)(e)?
Within one year of death did the decedent acquire any
If yes, submit full details.
Yes
No
property for less than adequate and full consideration?
Enter names and dates of birth of distributees receiving a life interest in property.
DECLARATION:
I declare that I have made a diligent and careful search for property of every kind left by the decedent, and
that this return, including accompanying schedules, has been examined by me, and is to the best of my knowledge and belief, true,
correct and complete. If prepared by anyone other than the person filing this return, the preparer’s separate declaration is based on
all information of which he or she has any knowledge.
PERSONAL REPRESENTATIVE, special administrator, trustee, distributee or other person interested. (Section 72.30(1), Wis. Stats.)
Name
Designation
Address
Zip code
Date
Telephone number
SIGN
➧
HERE
(
)
PERSON PREPARING THE RETURN (individual and firm) if other than the preceding signer
Name
Designation
Address
Zip code
Date
Telephone number
SIGN
➧
HERE
(
)
Wisconsin Inheritance Tax Exemptions and Rates**
Balance
$25,000
$50,000
$100,000
Personal
of
to
to
to
Over
RELATIONSHIP OF DECEDENT
Exemptions
$25,000
$50,000
$100,000
$500,000
$500,000
$50,000
2.5%
5.0%
7.5%
10.0%
12.5%
A
1
Spouse (deaths on or after May 14, 1972 and before January 1, 1974)
50,000
1.25
2.5
3.75
5.0
6.25
Spouse (deaths on or after January 1, 1974 and before July 1, 1979)
250,000
1.25
2.5
3.75
5.0
6.25
Spouse (deaths on or after July 1, 1979 and before July 1, 1982)
Spouse (deaths on or after July 1, 1982) All property received is exempt
A
2
Lineal issue (children, grandchildren), lineal ancestor (parents, grandparents),
wife or widow of a son, husband or widower of a daughter, adopted or mutually
acknowledged child, or mutually acknowledged parent.
4,000
2.5
5.0
7.5
10.0
12.5
Deaths on or after May 14, 1972 and before July 1, 1979
10,000
2.5
5.0
7.5
10.0
12.5
Deaths on or after July 1, 1979 and before April 13, 1984
25,000
2.5
5.0
7.5
10.0
12.5
Deaths on or after April 13, 1984 and before July 1, 1985
50,000
2.5
5.0
7.5
10.0
12.5
Deaths on or after July 1, 1985
1,000
5.0
10.0
15.0
20.0
25.0*
B
Brother, sister, or descendant of brother or sister (nephew, grandniece, etc.)
1,000
7.5
15.0
22.5*
30.0*
30.0*
C
Brother or sister of a father or mother, or a descendant of such brother or sister
500
10.0
20.0
30.0*
30.0*
30.0*
D
All others regardless of relationship to the decedent
The personal exemption is applied against the lowest bracket.
The shaded brackets are only used in
The tax shall not exceed 20% of the value of the property transferred to any distributee.
apportionment cases - s. 72.14(3).
*For deaths on or after January 1, 1986, these tax rates are 20% instead of the rates shown.
Year of Death
Reduce Tax By
**The inheritance tax is being phased out over a 5-year period starting with deaths occurring in 1988.
1988 ......................... 20%
To compute the inheritance tax owed because a decedent dies in 1988 or thereafter, first calculate
1989 ......................... 40%
the tax using the personal exemptions and rates in the above table. Then reduce the tax computed
1990 ......................... 60%
as shown in the schedule to the right and the difference is the inheritance tax due.
1991 ......................... 80%
1992 ........................ 100%
(no inheritance tax is due)
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