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FORMMISSOURI DEPARTMENT OF REVENUEMISSOURI ESTATE/GENERATIONSKIPPING CREDIT TAX RETURNMO706 (REV. 298)ATTACH COPY OF FEDERAL FORM 706 PAGES 1, 2 and 3 CHECK ONE:ORIGINAL RETURNAMENDED RETURN (Attach
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How to fill out missouri estategeneration-skipping

01
Gather all the necessary documents such as the Missouri Generation-Skipping Transfer Tax Return form.
02
Fill out the form with accurate information including the details of the transferor, the transferee, and the description of the property being transferred.
03
Calculate the generation-skipping transfer tax using the provided instructions on the form.
04
Attach any supporting documentation required by the form, such as appraisals or valuations of the transferred property.
05
Review the completed form for accuracy and completeness.
06
Sign the form and date it.
07
Submit the completed form along with any required payment to the appropriate Missouri tax authority.
08
Keep copies of all submitted documents for your records.

Who needs missouri estategeneration-skipping?

01
Anyone who wants to transfer property to a skipping-generation beneficiary or set up trusts for such beneficiaries in Missouri needs to fill out the Missouri estategeneration-skipping form.
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Missouri estate generation-skipping is a tax imposed on transfers of property to individuals who are two or more generations below the transferor, such as grandchildren.
The executor or personal representative of an estate is required to file missouri estate generation-skipping if the estate meets certain criteria.
Missouri estate generation-skipping can be filled out using Form 480.2, which requires detailed information about the estate and the transfer of property.
The purpose of missouri estate generation-skipping is to ensure that transfers of property to younger generations are appropriately taxed.
Information such as the value of the property transferred, the relationship between the transferor and the transferee, and any applicable exemptions must be reported on missouri estate generation-skipping.
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