The purpose of this article is to recapture the excess of the estate tax liability which would have been incurred had the special use valuation procedure not been used; in other words, the maximum additional recapture tax is the amount that the special valuation has saved the estate.
Va. Code Ann. § 58.1-934
Purpose
Known as the Virginia Estate Tax Act
The act spans §§ 58–58 (28 sections).
Code 1950, § 58-238.38; 1981, c. 399; 1984, c. 675.
Official source: Virginia Law Portal (LIS). Reproduced from public-domain Virginia statutes; confirm against the official source for the current text. Not legal advice.