ILCS » Chapter 35 · Act 405
Illinois Compiled Statutes

35 ILCS 405/5 (2026)

Determination of tax situs and valuation

✓ current as of May 2026
Find cases: SyfertCases citing this section IL-ILGAilga.gov JustiaChapter on Justia CornellLII Search CasesGoogle Scholar
(35 ILCS 405/5) (from Ch. 120, par. 405A-5)
    Sec. 5. Determination of tax situs and valuation.
    (a) Illinois estate tax.
        (1) For purposes of the Illinois estate tax, in the
    
case of a decedent who was a resident of this State at the time of death, all of the transferred property has a tax situs in this State, including any such property held in trust, except real or tangible personal property physically situated in another state.
        (2) For purposes of the Illinois estate tax, in the
    
case of a decedent who was not a resident of this State at the time of death, the transferred property having a tax situs in this State, including any such property held in trust, is only the real estate and tangible personal property physically situated in this State.
    (b) Illinois generation-skipping transfer tax.
        (1) For purposes of the Illinois generation-skipping
    
transfer tax, all transferred property from or in a resident trust has a tax situs in this State, including any such property held in trust, except real or tangible personal property physically situated in another state on the date that the taxable transfer occurs.
        (2) For purposes of the Illinois generation-skipping
    
transfer tax, none of the transferred property from or in a non-resident trust has a tax situs in this State, except that portion of the transferred property that is real or tangible personal property physically situated in this State, including any such property held in trust, on the date that the taxable transfer occurs.
    (c) Valuation. Except as otherwise expressly provided, for purposes of this Act, the gross value of transferred property shall be its value as finally determined for purposes of the federal transfer tax, undiminished by any mortgages, liens or other encumbrances upon such transferred property for which the decedent was personally liable.
(Source: P.A. 93-30, eff. 6-20-03.)

    
Notes of Decisions
Cited in 2 cases, 2012–2019 · leading case: People ex rel. Madigan v. Kole, 2012 IL App (2d) 110245 (Ill. App. Ct. 2012).
Sort: Relevance Newest Treatment
People ex rel. Madigan v. Kole, 2012 IL App (2d) 110245 (Ill. App. Ct. 2012). “35 ILCS 405/5(c) (West 2002) (“Except as otherwise expressly provided, for purposes of this Act, the gross value of transferred property shall be its value as finally determined for purposes of the related federal transfer tax, undiminished by” certain encumbrances upon the…”
Baillie v. Raoul, 2019 IL App (4th) 180655 (Ill. App. Ct. 2019). “” 35 ILCS 405/5(c) (West 2014). The federal government, generally speaking, attributes to the transferred property the fair market value it had when the decedent died; “[t]he value of the gross estate,” section 2033 provides, “shall include the value of all property to the…”
— 35 ILCS 405/5(c) — 2 cases
People ex rel. Madigan v. Kole, 2012 IL App (2d) 110245 (Ill. App. Ct. 2012). “35 ILCS 405/5(c) (West 2002) (“Except as otherwise expressly provided, for purposes of this Act, the gross value of transferred property shall be its value as finally determined for purposes of the related federal transfer tax, undiminished by” certain encumbrances upon the…”
Baillie v. Raoul, 2019 IL App (4th) 180655 (Ill. App. Ct. 2019). “” 35 ILCS 405/5(c) (West 2014). The federal government, generally speaking, attributes to the transferred property the fair market value it had when the decedent died; “[t]he value of the gross estate,” section 2033 provides, “shall include the value of all property to the…”
Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.