72-16-337. Application to certain business interests -- department rules. (1) The department shall prescribe regulations setting forth the application of 72-16-331 through 72-16-349 in the case of an interest in a partnership, corporation, or trust that, with respect to the decedent, is an interest in a closely held business within the meaning of 72-16-453.
     (2) For the purposes of the preceding sentence, an interest in a discretionary trust all the beneficiaries of which are qualified heirs must be treated as a present interest.

     History: En. Sec. 11, Ch. 705, L. 1979; amd. Sec. 7, Ch. 511, L. 1983.