What is the exemption, if the decedent was a nonresident of Tennessee?
The exemption shall be apportioned in the ratio that the value of the property included in the gross estate bears to the value of all the property that would have been included in the gross estate if the decedent had been a resident of this state. Example – The nonresident decedent has a gross estate of $900,000 in 2001 – real property in Tennessee, a farm, has a value of $200,000 – cattle on the farm has a value of $35,000; real property outside Tennessee has a value of $150,000. Tennessee ratio of $235,000 to $750,000 ($900,000 less $150,000) = .31333 x $675,000 = $211,500. Tax is due on $23,500.
