Part One: State taxes

Article 754 B is applicable to real estate wealth tax.

The assets mentioned in article 965 given a usufruct, a right of habitation or a right of use granted on a personal basis are included in the assets of the usufructuary or the holder of the right for their full ownership value. However, provided, in the case of usufruct, that the right constituted is neither sold nor transferred free of charge by its holder, these assets encumbered by the usufruct…

The assets mentioned in article 965 acquired jointly under the conditions set out in article 754 A are included in the estate of each of the contracting parties in proportion to the sums invested by each of the survivors in the contract.

The assets mentioned in article 965 transferred to a fiduciary estate or those that may have been acquired by way of reinvestment are included in the settlor’s estate at their net market value.

The assets mentioned in article 965 placed in a trust defined in article 792-0 bis are included, for their net market value on 1st January of the tax year, as the case may be, in the assets of the settlor or in those of the beneficiary who is deemed to be a settlor pursuant to II of the same article 792-0 bis. The first paragraph of this article does not…

I.-The rights attached to a leasing contract entered into under the conditions provided for in Article 2 of L. 313-7 of the Monetary and Financial Code are included, for the value of the assets mentioned in Article 965 which are the subject of the contract assessed at 1 January of the tax year, after deduction of the amount of the rents and the amount of the purchase option remaining until…

The surrender value of surrenderable insurance contracts and capitalisation bonds or contracts expressed in units of account mentioned in the second paragraph of article L. 131-1 of the Insurance Code is included in the policyholder’s assets up to the fraction of their value representing the units of account made up of the assets mentioned in Article 965, assessed in accordance with the conditions set out in the same Article 965…

For the application of article 965 and under the same conditions, the following are not retained for the determination of the tax base, when the taxpayer holds less than 10% of the rights of the undertaking for collective investment, alone and where applicable jointly with the persons mentioned in 1° of the same article 965, and when the assets of the undertaking for collective investment are composed directly or indirectly,…

For the application of article 965 and under the same conditions, shares in property investment companies mentioned in I of article 208 C when the taxpayer holds, directly and, where applicable, indirectly, alone or jointly with the persons referred to in 1° of Article 965, less than 5% of the company’s capital and voting rights. The taxpayer may also hold, directly or indirectly, less than 5% of the company’s capital…