NORTH CAROLINA GENERAL ASSEMBLY

1971 SESSION

 

 

CHAPTER 651

HOUSE BILL 965

 

 

AN ACT TO AMEND G.S. 105-4 TO PERMIT INHERITANCE TAX EXEMPTION TO BE DIVIDED PER CAPITA AMONG GRANDCHILDREN.

 

The General Assembly of North Carolina do enact:

 

Section 1.  G.S. 105-4(b) is hereby amended by rewriting the first two provisos thereof, to read as follows:

"Provided that where one or more children predecease their parent (the parent in such instance being the person who died possessed of the property referred to in subsection (a) above), the total exemption which would otherwise have been applicable if such child or children had survived their parent shall be divided per capita among the surviving children of the predeceased child or children; provided further that a grandchild or grandchildren shall be allowed the single exemption or so much thereof as is not applied to the share of the parent, or a pro rata part thereof, when the parent is living and does not share in the estate to the full extent of said exemption."

Sec. 2.  This act shall become effective upon ratification.

In the General Assembly read three times and ratified, this the 22nd day of June, 1971.