Instructions For Estate Tax Form 3g - Ohio Department Of Taxation printable pdf download

Instructions For Estate Tax Form 3g - Ohio Department Of Taxation

Estate Tax Form 3G

Revised 9/02

Page 2

Instructions

This form shall be filed on or before the 90th day after the last

of $10,000 if provided. If the generation-skipping transfer tax is

day prescribed by law, including extensions, for filing the estate

not paid when due, a distributee of a taxable distribution is

tax return under Chapter 11 of subtitle B of the Internal Revenue

personally liable to the extent of the value of his distribution,

Code of 1954, as amended, in respect of the estate of the

and the trustee is personally liable in the case of a taxable

deemed transferor or, if later, the day that is nine months after

termination.

the day on which the generation-skipping transfer occurred.

Section 5731.22, Revised Code, as amended, provides a

If not previously forwarded, a copy of the Generation-Skipping

maximum penalty of 25% of the amount of the tax for failure to

Transfer Tax Return (Form 706-B) should be directed to the

timely file. It is computed at the rate of 5% for the first month

Estate Tax Division, Ohio Department of Taxation, 800 Freeway

plus an additional 5% per month for each month or fraction

Drive North, Columbus, OH 43229. Do not file any federal

thereof during which the failure continues. If failure to file or

forms with the Probate Court.

any underpayment of tax is due to fraud, a maximum penalty

File in duplicate with the Probate Court.

Instructions For Estate Tax Form 3g - Ohio Department Of Taxation