Opinion No. (1976)

REQUESTED BY: Frank C. Heinisch, County Attorney, Fillmore County, Geneva, Nebraska 68361. 1. What is the proper valuation for inheritance tax purposes of certain federal bonds which may be used at par value in paying federal estate tax liability?

2. May Nebraska estate tax be deducted in determining the inheritance tax liability?

1. To the extent that such bonds may be redeemed at par value then par value is the appropriate valuation. Where market value exceeds par value, market value is the appropriate valuation. Where the estate has bonds in excess of federal estate tax liability, those…