Form 454 - Oklahoma Estate Tax Return Packet Page 31

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O
T
KLAHOMA
ABLE
Based on American Experience Table with interest at 5%.
Table for Computing Life Estates and Terms of Years for Purpose of Taxation.
Prepared by the Oklahoma Estate Section of the Oklahoma Tax Commission.
1
4
1
2
3
1
4
2
3
81
4.05
3.01349
19.615673
91
1.19
.64497
19.764055
82
3.71
2.76062
19.633974
92
.98
.44851
19.775290
83
3.39
2.51052
19.651404
93
.80
.28761
19.785990
84
3.08
2.26066
19.668004
94
.64
.13605
19.796181
85
2.77
2.00986
19.683813
95
...
...
19.805886
86
2.47
1.76061
19.698869
96
...
...
19.815129
87
2.18
1.51750
19.713208
97
...
...
19.823932
88
1.91
1.28611
19.726865
98
...
...
19.832316
89
1.66
1.06704
19.739871
99
...
...
19.840301
90
1.42
.85453
19.752258
100
...
...
19.847905
The following correcting factors should be added to the annuity factor set forth under column 3:
(a) If payable semi-annually ................................................................................ .250
(b) If payable quarterly ........................................................................................ .375
(c) If payable monthly ......................................................................................... .45833
E
U
T
XAMPLES OF THE
SE OF THE
ABLES. - A will gives to the widow an estate for life amounting to $75,000 with
remainder over to a son - using the age of the widow as 49 years. In column No. 3 opposite 49 in column No. 1 you will find the
figures 11.90076, which is the present value of $1.00 at 5% paid annually to a person 49 years of age. The Inheritance tax law
designates 5% as the income rate. First multiply $75,000 by 5%, which is $3,750.00 the income for each year, then multiply
$3,750.00 by 11.90076, which is $44,627.85, the value of the life interest to the widow. To find the remainder interest subtract
$44,627.85 life interest from $75,000.00.
A will gives to a wife an estate of $40,000 in trust for ten years, she receiving the income during this period with the
remainder to a son in fee. In column No. 4 opposite 10 in column No. 1 you will find the figures 7.721733, which is the present
value of $1.00 at 5% annually for a term of 10 years. The Inheritance Tax law designates 5% as the income rate. First multiply
$40,000 by 5%, which is $2,000.00, the income for each year, then multiply $2,000.00 by 7.721733, which is $15,443.46, the
value of this estate in trust for 10 years.
To find his remainder interest subtract $15,443.46 from $40,000.00.
pg. 14

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